The HBOC Italy Manufacturing PMI edged higher to 44.5 in July of 2023 from the three-year low of 43.8 in the previous month, ahead of market estimates of 44.2 but remaining deep in the contractionary territory for the fourth consecutive month. New orders, factory production, and backlogs fell at historically steep rates in the period, with surveyors citing client uncertainty, destocking tendencies, and low overall demand from both domestic and foreign sources. Consequently, manufacturers also cut purchasing activity at a historical rate. Still, job growth was maintained at its current positive trend, extending the period of headcount gain to nearly three years. In the meantime, the preference to use inventory inputs and low demand for resources drove input costs to fall at the sharpest degree on survey record. Looking ahead, factories retained a positive outlook for future activity and expect market demand to steadily recover, supported by the investment and release of new products. source: Markit Economics

Manufacturing PMI in Italy averaged 52.13 points from 2012 until 2023, reaching an all time high of 62.80 points in November of 2021 and a record low of 31.10 points in April of 2020. This page provides the latest reported value for - Italy Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Italy Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

Manufacturing PMI in Italy is expected to be 46.80 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Italy Manufacturing PMI is projected to trend around 53.60 points in 2024 and 52.50 points in 2025, according to our econometric models.

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Italy Manufacturing 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 Manufacturing PMI
In Italy, the Markit Italy Manufacturing Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of 400 industrial companies. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.
Actual Previous Highest Lowest Dates Unit Frequency
44.50 43.80 62.80 31.10 2012 - 2023 points Monthly
SA

News Stream
Italian Factory Activity Points to 4th Straight Contraction
The HBOC Italy Manufacturing PMI edged higher to 44.5 in July of 2023 from the three-year low of 43.8 in the previous month, ahead of market estimates of 44.2 but remaining deep in the contractionary territory for the fourth consecutive month. New orders, factory production, and backlogs fell at historically steep rates in the period, with surveyors citing client uncertainty, destocking tendencies, and low overall demand from both domestic and foreign sources. Consequently, manufacturers also cut purchasing activity at a historical rate. Still, job growth was maintained at its current positive trend, extending the period of headcount gain to nearly three years. In the meantime, the preference to use inventory inputs and low demand for resources drove input costs to fall at the sharpest degree on survey record. Looking ahead, factories retained a positive outlook for future activity and expect market demand to steadily recover, supported by the investment and release of new products.
2023-08-01
Italy Factory Activity Falls the Most Since 2020
The HBOC Italy Manufacturing PMI dropped to 43.8 in June 2023 from 45.9 in the previous month and compared to market forecasts of 45.3. It marked the steepest deterioration in operating conditions since April 2020, undermined by the sharp decline in new orders and production, with output contracting the most in three years while sales dropped to an eight-month low. Subsequently, purchasing activity shrank to its lowest level since 2020. On a positive note, firms continued to increase employment, although growth slipped to a marginal pace. On prices, input costs recorded the most substantial decline since 2009, while output charges continued to fall. Finally, firms retained a positive outlook, but the degree of optimism moderated to its weakest in six months.
2023-07-03
Italy Factory Activity Shrinks the Most in 3 Years
The HBOC Italy Manufacturing PMI fell to 45.9 in May 2023 from 46.8 in April, the steepest contraction for three years and compared with market expectations of 45.6. Production experienced the most significant decline since October of the previous year, while new work fell at a rate not seen since November 2022. However, there was an increase in hiring activity, albeit at a modest rate, which was the slowest growth observed so far this year. In terms of prices, input prices recorded the most substantial fall in 14 years, while output prices decreased for the third consecutive month and at the steepest pace in three years. Finally, although optimism dropped to a three-month low, it remained above the long-term trend.
2023-06-01