The IHS Markit Italy Services PMI declined to 10.8 in April of 2020 from 17.4 in the previous month but better than market expectations of 9. The reading pointed to a new record contraction in the services sector as the economic fallout from the coronavirus disease 2019 (COVID-19) virus intensified. Business activity and new business both declined at the sharpest rates in more than 22 years of data collection, with panellists linking the falls to lockdown measures and muted client demand stemming from the pandemic. Workforce numbers continued to decline, with the rate of job shedding accelerating to the most marked on record. Meanwhile, expectations with regards to output remained negative, although sentiment picked up slightly from March's nadir.

Services PMI in Italy averaged 49.73 points from 2011 until 2020, reaching an all time high of 57.70 points in January of 2018 and a record low of 10.80 points in April of 2020. This page provides the latest reported value for - Italy Services PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Italy Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020. source: Markit Economics

Services PMI in Italy is expected to be 36.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services PMI in Italy to stand at 50.00 in 12 months time. In the long-term, the Italy Services PMI is projected to trend around 52.90 points in 2021 and 54.40 points in 2022, according to our econometric models.

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Italy Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
10.80 17.40 57.70 10.80 2011 - 2020 points Monthly


News Stream
Italy Services Activity Suffers Unprecedented Fall
The IHS Markit Italy Services PMI declined to 10.8 in April of 2020 from 17.4 in the previous month but better than market expectations of 9. The reading pointed to a new record contraction in the services sector as the economic fallout from the coronavirus disease 2019 (COVID-19) virus intensified. Business activity and new business both declined at the sharpest rates in more than 22 years of data collection, with panellists linking the falls to lockdown measures and muted client demand stemming from the pandemic. Workforce numbers continued to decline, with the rate of job shedding accelerating to the most marked on record. Meanwhile, expectations with regards to output remained negative, although sentiment picked up slightly from March's nadir.
2020-05-06
Italy Services PMI Lowest on Record
The IHS Markit Italy Services PMI slumped to 17.4 in March of 2020 from 52.1 in February and much worse than market expectations of 22. The reading pointed to a record contraction in the services sector due to emergency measures and shutdowns designed to restrict the COVID-19 outbreak. Record declines were also recorded in new business and employment while input prices fell the most since the series began. Also, business confidence collapsed and reached the lowest level on record amid substantial uncertainty relating to the coronavirus pandemic.
2020-04-03
Italy Services Sector Growth At 4-Month High
The IHS Markit Italy Services PMI increased to 52.1 in February 2020 from 51.4 in the previous month and above market forecasts of 51.4. The reading pointed to the strongest expansion in the services sector since October 2019, as new orders rose at the fastest rate for four months. Meantime, the rate of job creation gathered pace from January while new export orders fell for the eighth month running. On the price front, input price inflation was the quickest since last October amid greater utility and staff costs; while output prices declined for the seventh consecutive month as competitive pressures led to continue discounting. Finally, sentiment moderated slightly but firms remained confident output would rise over the next 12 months amid hopes of improved sales.
2020-03-04
Italy Services PMI at 3-Month High in January
The IHS Markit Italy Services PMI rose to 51.4 in January 2020 from 51.1 in the previous month and beating market expectations of 50.2. The reading pointed to the eighth consecutive month of growth in the services sector as output and new orders continued to advance solidly. In contrast, export orders continued to fall and at the sharpest pace since February last year. Meantime, employment increased modestly. On the price front, input inflation rose further, mainly linked to higher fuel prices and greater staff costs. However, selling prices declined the most since December 2018, mainly attributed to competitive pressures and efforts to secure sales. Looking ahead, business sentiment was the strongest since July 2019, supported by improvements in new orders and the progression of new projects.
2020-02-05

Italy Services PMI
Markit/ADACI Italy Services PMI (Purchasing Managers' Index) is based on data collected from a representative panel of around 400 companies based in the Italian service sector. The index tracks variables such as sales, employment, inventories and prices. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining.