The HCOB Italy Composite PMI dipped further to 48.9 in July of 2023 from 49.7 in the previous month, to signal the second consecutive month of contraction in Italian private sector activity and at the fastest pace since last November. Growth in services slowed (PMI at 51.5 vs 52.2 in June) and manufacturing activity remained stuck in a downturn for the fourth consecutive month (PMI at 44.5 vs 43.8). The decline in new orders at manufacturers more than offset a slight rise in the service sector. In both sectors, there was evidence of available capacity, as backlogs of work decreased in each of them. Meanwhile, a slight drop in services employment contrasted with a marginal rise in manufacturing staffing volumes. In terms of prices, manufacturers experienced a considerable drop in input costs compared to strong inflation in services. Lastly, confidence in the future picked up in both sectors. source: Markit Economics

Composite PMI in Italy averaged 51.36 points from 2013 until 2023, reaching an all time high of 59.10 points in August of 2021 and a record low of 10.90 points in April of 2020. This page provides - Italy Composite Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. Italy Composite PMI - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

Composite PMI in Italy is expected to be 50.10 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Italy Composite PMI is projected to trend around 54.30 points in 2024 and 51.00 points in 2025, according to our econometric models.

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Italy Composite PMI



Related Last Previous Unit Reference
Manufacturing PMI 44.50 43.80 points Jul 2023
Services PMI 51.50 52.20 points Jul 2023
Composite PMI 48.90 49.70 points Jul 2023

Italy Composite PMI
The Italy Composite PMI is a weighted average of the Manufacturing Output Index and the Services Business Activity Index. Survey responses reflect the change, if any, in the current month compared to the previous month based on data collected mid-month. For each of the indicators the ‘Report' shows the percentage reporting each response, the net difference between the number of higher/better responses and lower/worse responses, and the ‘diffusion' index. This index is the sum of the positive responses plus a half of those responding ‘the same'. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining.
Actual Previous Highest Lowest Dates Unit Frequency
48.90 49.70 59.10 10.90 2013 - 2023 points Monthly
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News Stream
Italian Private Sector Shrinks for 2nd Month
The HCOB Italy Composite PMI dipped further to 48.9 in July of 2023 from 49.7 in the previous month, to signal the second consecutive month of contraction in Italian private sector activity and at the fastest pace since last November. Growth in services slowed (PMI at 51.5 vs 52.2 in June) and manufacturing activity remained stuck in a downturn for the fourth consecutive month (PMI at 44.5 vs 43.8). The decline in new orders at manufacturers more than offset a slight rise in the service sector. In both sectors, there was evidence of available capacity, as backlogs of work decreased in each of them. Meanwhile, a slight drop in services employment contrasted with a marginal rise in manufacturing staffing volumes. In terms of prices, manufacturers experienced a considerable drop in input costs compared to strong inflation in services. Lastly, confidence in the future picked up in both sectors.
2023-08-03
Italian Private Sector Falls Back Into Contraction in June
The HCOB Italy Composite PMI moved down to 49.7 in June of 2023 from 52 in the previous month, pointing to a renewed contraction in the country's private sector, albeit slight. It follows five consecutive months of growth. A strong deterioration in manufacturing activity (PMI at over three-year low of 43.8 vs 45.9 in May) more than offset modest growth in services (PMI at a four-month low of 52.2 vs 54). New orders followed a similar pattern, with the service sector experiencing growth in new business while sales declined at goods producers. Additionally, both categories saw a decrease in backlogs. In terms of pricing, the rate of inflation was the lowest for nearly three years, which provided some room for firms to cut charges for the first time since February 2021.
2023-07-05
Italian Private Sector Grows the Least in 4 Months: PMI
The HCOB Italy Composite PMI fell to 52.5 in May of 2023 from 53.4 in the previous month, below market expectations to mark the slowest pace of expansion in four months. Still, it extended the current growth trend to five months, as the strong, albeit slower, expansion in the services sector (54 vs 57.9 in April) offset a steeper contraction in the manufacturing sector (45.9 vs 46.8). New order levels and production in the Italian private economy extended the ongoing divergence between sector performance, as higher interest rates by the ECB show a more significant impact on goods producers. In the meantime, jobs were added for both industries. On the price front cost inflation was notably higher for service providers, underpinned by increased energy and workers’ salaries. On the other hand, the downturn in commodity prices and improved supply chains drove factory costs to drop the most in 14 years. While business confidence fell to a four-month low, the outlook remained positive.
2023-06-05