Italian services sector expansion accelerates in January as business activity index climbs
The HCOB Italy Services PMI rose to 52.9 in January, marking 14 months of growth. This stronger reading aligns with recent positive fourth-quarter GDP data.
The HCOB Italy Services PMI Business Activity Index rose to 52.9 in January from 51.5 in December, indicating an acceleration of the expansion within the Italy services sector. This growth in Italy 
IT represents the 14th consecutive month that the index has remained above the 50.0 threshold that separates expansion from contraction. The reading also surpassed expectations, as a Reuters survey of 14 analysts had previously pointed to a median forecast of 51.4.
IT represents the 14th consecutive month that the index has remained above the 50.0 threshold that separates expansion from contraction. The reading also surpassed expectations, as a Reuters survey of 14 analysts had previously pointed to a median forecast of 51.4.According to the report from HCOB, the increase in activity was supported by several specific factors. Reported drivers of the increase in services activity included new client onboarding, winning public tenders, and greater demand from existing customers. However, despite the rise in the headline index, internal subindexes suggested a loss of momentum in some areas. Subindexes showed new business growth, export sales, and expectations of future activity all slowed from the month before, with the new business subindex decelerating to 52.9 from December's 54.9.
