Italian Services Activity Growth Slows To Near Stagnation

(RTTNews) - Italy's services activity growth slowed more than expected in December, survey results from Markit Economics showed Wednesday.

The seasonally adjusted Markit/ADACI Purchasing Managers' Index fell to 50.2 from 54.4 in November. The expected reading was 53.5. A reading above 50 suggests expansion in the sector.
"Growth in the Italian service sector stalled in the final month of 2010, following a surge in November," said Andrew Self, economist at Markit and author of the Italy Services PMI.