Italy February services PMI 52.8 vs 52.5 expected

• Prior 48.5
• Composite PMI 53.6
• Prior 50.1

Italian services output rebounds, following a similar trend across the region as the economy picks up following the drag from the omicron impact in December and January. Markit notes that:

"The Italian service sector returned to growth territory in February, as the easing of virus-fighting measures allowed demand to spring back. Both business activity and new work rose moderately, although the rates of growth lagged those seen through much of 2021.

"The revival in the service sector was met with a quicker upturn in manufacturing production midway through the first quarter of the year. As a result, private sector growth accelerated to a solid pace in February, while demand conditions improved further. Firms continued to take on additional staff, although with some panellists reporting issues sourcing candidates, the rate of job creation eased.

"Stronger growth coincided with more intense 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 pressures across the Italian private sector during February. Input costs rose at a survey record pace, with anecdotal evidence citing surging energy bills, staff costs, supply issues and rising material costs. Average charges levied by firms rose steeply as a result."