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New business boosts growth of Italian services

News & Data JIACC

Growth in Italy’s services picked up speed in December from the month before, a survey showed on Thursday, suggesting modest growth continued into the end of 2017 in the euro zone’s third-largest economy

Source: Daily Mail – The Markit/ADACI Business Activity Index for services companies rose to 55.4 from 54.7 in November, its 19th straight month above the 50 mark that separates growth from contraction. New business was the main growth driver, according to a sub-index tracking fresh orders, which soared to 58.0 from 54.3 the previous month, the best gain recorded since June 2006. Markit’s composite survey for services and manufacturing also rose, to 56.5, despite a slowdown in factory activity growth shown in data released on Tuesday . Italy’s government estimates gross domestic product rose 1.5 percent in 2017, its strongest rate since 2010, and forecasts the same rate of expansion this year

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