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Italy Construction Sector Growth At 8-Month Low

Italy's construction sector grew at the weakest pace in eight months in January, survey results from IHS Markit showed on Wednesday.

The IHS Markit Construction Purchasing Managers' Index or PMI fell to 51.8 in January from 52.8 in December. The weakest expansion since May 2018.

Any reading above 50 indicates an expansion in the sector, which expanded for a tenth successive month.

Activity increased in all three broad sectors for the fourth successive month.

Civil engineering activity contracted for the second month running, at a softer pace than in December. Weaker
growth was recorded in the commercial and residential sectors.

New business growth was the slowest in six months and business confidence eased to a five-month low.

Firms reduced their number of workers for the first time since April 2018, mainly due to the non replacement of retirees and the end of temporary contracts.

On the price front, input price inflation was the slowest in a year, despite rising raw material costs.

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