Italy's service sector growth accelerated in February, reaching its fastest pace since June 2021.

Italy's service sector grew for the second consecutive month in February, reaching its fastest pace since June 2021, according to the HCOB Purchasing Managers' Index (PMI) survey. The index increased to 52.2 in February from 51.2 in January, driven by a rise in new business and job creation. However, Italy's manufacturing sector continues its slump with activity contracting for the eleventh month in a row.