Italy November services PMI 49.5 vs 48.2 expected ...Middle East

Prior 47.7Composite PMI 48.1Prior 47.0The contraction in the services sector eases in November but the main thing to note is that inflation pressures are flaring up again. Firms signaled a steeper rise in operating costs and passed that on to consumers through greater selling prices. HCOB notes that:"Italy's service sector is turning more optimistic. The HCOB Business Activity PMI, which has been in contractionary territory for four months straight, moved towards stagnation, rising by 1.8 points to 49.5 in November. An upward move in the forward-looking Future Output Index feeds some hope that the sector might move beyond contraction in the coming months. "Employment remains stable, with no

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