Italy April services PMI 55.7 vs 54.5 expected

• Prior 52.1
• Composite PMI 54.5
• Prior 52.1

Stronger demand conditions helped to see Italian services business activity expand at its quickest pace since November last year. However, inflationary pressures remain severe with the rate of cost inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term only seen easing slightly from March's peak and average charges levied by Italian service providers rising at a series record pace. S&P Global notes that:

"The Italian services sector registered another strong performance during April, with the rates of expansion in business activity and new work accelerating to five-month highs amid reports of stronger demand conditions, which were also reflected in a rebound in new export business.

"Stronger growth spurred on a further round of job creation, despite a slight fall in outstanding business, with the rate of increase in employment the sharpest since July 2007.

"Costs continued to surge, however, linked by panellists to rising energy, staff and fuel costs, as well as the war in Ukraine. As a result, charges levied by service providers rose at a survey record pace.

"The strong services performance occurred concurrently with a subdued upturn at manufacturers, who continue to battle with widespread shortages and supply constraints. Nonetheless, private sector growth hit a four-month high to kick off the second quarter of the year in positive fashion as demand improved further.

"Business confidence picked up in April, although remained muted compared to that in 2021, with supply headwinds, inflationary pressures and the war in Ukraine key concerns for private sector companies. Nonetheless, the more resilient service sector has allowed the economy to remain firmly on a growth footing, according to the PMI data, as we move further into the second quarter of 2022."