Italian S&P Global Services PMI (May) 49.4 vs. Exp. 49.1 (Prev. 49.8)

"The Italian private sector continued to rely on the manufacturing boost brought on by panic-driven stockpiling to avoid a contraction in May" "We can see that the services economy is struggling in the face external challenges, contributing to dampened demand, particularly from domestic customers."  Middle East conflict "impact on inflationary pressures has been significant, and we are yet to know if  the prices have reached their peak."