Italy's service sector contracts in August for first time in 2023 -PMI

ROME (Reuters) - The Italian services sector contracted very slightly in August - the first time it has done so this year - signalling the possible ...

STORY CONTINUES BELOW THESE SALTWIRE VIDEOSROME - The Italian services sector contracted very slightly in August - the first time it has done so this year - signalling the possible start of a recession in a key segment of the euro zone's third-largest economy, a survey showed on Tuesday.

The result was lower than expected, with a Reuters survey of eight analysts pointing to a figure of 50.2. "The Italian services sector is now firmly in the grip of a recessionary threat," said Tariq Kamal Chaudhry, an economist at HCOB."Companies do not seem to harbour belief in a swift recovery of the Italian services sector. New orders both domestically and abroad are now dwindling."

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