actual 50.4, previous 50.7
The event is the Services Purchasing Managers' Index (PMI) for Italy in January 2025. The actual value reported is 50.4, which is slightly lower than the previous value of 50.7. The estimate was 50.5, so the actual value came in slightly below expectations.
The Services PMI is an important economic indicator that measures the performance of the services sector in a country. A PMI value above 50 indicates expansion in the sector, while a value below 50 indicates contraction.
In this case, the Services PMI for Italy remained above the 50 threshold, indicating that the services sector is still expanding, albeit at a slightly slower pace compared to the previous period. The impact of this event on the market is considered medium, as it provides insights into the health of the Italian economy and can influence market sentiment towards the Euro (EUR).