What’s going on here?
Italy’s services sector marked its sixth month of growth in June, despite a slight dip in new business activity for the eurozone’s third-largest economy.
What does this mean?
The HCOB Purchasing Managers’ Index (PMI) for Italian services hit 53.7 in June, down a bit from May’s 54.2 but still well above the 50 mark that signals expansion. The new business sub-index also saw a minor decrease to 53.0 from 53.3 in May, and employment slipped to 53.1 from 54.1. Still, an economist at HCOB highlighted the sector’s resilience. Meanwhile, Italy’s manufacturing sector PMI…