S&P Global Italy services PMI rose to 50.2 in June from 49.4 in May, breaching
the 50 expansion threshold for the first time since late-February’s US-Israel
strike on Iran and signaling a slight rebound after three months of contraction.
Middle East tensions showed signs of easing and the input-cost inflation gauge
fell to 62.1 from 66.7 in May — still elevated but the first decline since
January — while the prices-charged index eased to 52.8 from 54.1. S&P Global
Economist Eleanor Dennison said signs of cooling inflation should give service
providers and consumers some breathing room.