Prior 49.8Composite PMI 50.7Prior 48.6The Italian economy returns to growth, albeit marginally, in January thanks to an improvement in its services sector. Output and sales were both up for the first time in six months but price pressures are seen intensifying in what is a setback for the ECB to start the year. HCOB notes that:"Finally, some good news from Italian service providers. The corresponding HCOB PMI returned to growth territory in January for the first time in six months, reaching 51.2 index points. Despite global demand weakness and high prices, the sector is holding its ground, and our HCOB Nowcast, which considers the PMI indicators, anticipates service sector growth of 0.2% in
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