The IHS Markit Italy Services PMI increased to 51.1 in December of 2019 from 50.4 in November, slightly higher than market expectations of 51. The reading pointed to the seventh month of increases in service sector activity, partially due to a further rise in new orders amid stronger domestic demand conditions. In contrast, new export orders continued to decline. Also, job creation softened to the weakest since April and capacity pressures were stable. On the price front, cost inflation increased while output charges fell. Finally, Italian service providers remained optimistic with regards to business activity over the coming 12 months, with expectations strengthening from November. The level of positive sentiment remained below the long-run series average, however. Services PMI in Italy averaged 50.38 points from 2011 until 2019, reaching an all time high of 57.70 points in January of 2018 and a record low of 42.30 points in April of 2012. source: Markit Economics

Services PMI in Italy is expected to be 51.10 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 52.90 in 12 months time. In the long-term, the Italy Services PMI is projected to trend around 54.40 points in 2020, according to our econometric models.

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Italy Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
51.10 50.40 57.70 42.30 2011 - 2019 points Monthly


News Stream
2019-12-04
Italy Services Activity Growth Lowest in 6 Months
The IHS Markit Italy Services PMI fell to 50.4 in November of 2019 from 52.2 in October, below market expectations of 51.2. The reading pointed to the slowest expansion in services activity in six months. Business activity and total new orders softened; new export orders contracted mainly due to lower demand from foreign automotive clients as well as customers based in China. Job creation also slowed. On the price front, cost inflation fell to a four-month low while output charges went down for the fourth consecutive month as firms responded to competitive pressures. Finally, business confidences was the lowest in three months but remained positive. Just over 31% of panellists were confident of a rise in business activity from present levels in 12 months' time. Expectations of a pick-up in sales activity and planned business expansions were cited as reasons to be optimistic.

2019-11-06
Italy Services Sector Growth at 7-Month High
The IHS Markit Italy Services PMI rose to 52.2 in October 2019 from 51.4 in the prior month and beating market expectations of 51. The reading pointed to the fastest expansion in Italian service sector activity since March, as new orders grew for the fifth straight month and the most in 7 months. This was despite another decline in export orders which fell for the fifth month running, amid reports of slowing foreign demand, especially among automotive customers. Also, the rate of job creation was solid and the sharpest since August 2007, supported by stronger activity and sales. On the price front, output charges fell for the third consecutive month, despite input costs rising at the sharpest pace in 11 months, linked to rising energy and staffing costs. Looking forward, sentiment among Italian service providers weakened slightly in October but was positive overall. Expectations of greater customer demand and investments in new products were cited as reasons to be optimistic.

2019-10-03
Italy Service Sector Growth Beats Forecasts
The IHS Markit Italy Services PMI rose to 51.4 in September 2019 from 50.6 in the previous month and well above market expectations of 50.4. New order growth accelerated despite a further decline in new export sales, while the pace of job creation was the slowest since May. Moreover, the rate of backlog depletion was steep and the fastest since March 2016. On the price front, input cost inflation quickened to a ten-month high on exchange rate fluctuations and greater wage bills, while selling prices fell for the second month in a row and at the fastest pace since May, as Italian service providers reduced their charges in response to pressures to boost sales. Looking ahead, business sentiment improved markedly from August's one-year low, amid expectations of greater sales activity.

2019-09-04
Italy Service Sector Activity Below Forecasts
The IHS Markit Italy Services PMI fell to 50.6 in August 2019 from 51.7 in the previous month and below market expectations of 51.6. The latest reading signalled a marginal increase in Italian service sector activity, as new order growth eased and new export business declined for the second month in a row, amid reports of weaker automotive export sales. In addition, the rate of backlog depletion was steep and the fastest since March 2016 while the pace of job creation was solid. On the price front, input cost inflation quickened to the fastest in five months, boosted by food and energy costs; while output charges fell for the eighth time in the past nine months on the back of competitive market pressures. Finally, sentiment towards activity over the coming year declined to a one-year low, amid concerns over a slowing economy.

2019-08-05
Italy Services Sector Growth at 4-Month High
The IHS Markit Italy Services PMI rose to 51.7 in July 2019 from 50.5 in the prior month and beating market consensus of 50.6. The reading pointed to the fastest expansion in the services sector since March, as new orders rose the most in four months mainly driven by the domestic market. On the other hand, export orders fell, amid difficulties in the automotive sector including a reduction in new car sales. Meantime, output and employment grew at a moderate pace. On the price front, input prices rose the most in three months, due to greater fuel and wage costs. However, output charges were left broadly unchanged, following seven consecutive months of declines. Looking ahead, confidence picked up to the highest level since March 2018, linked to greater marketing, new product launches and hopes of renewed export growth.

2019-07-03
Italy Services Activity at 3-Month High: Markit
The IHS Markit Italy Services PMI rose to 50.5 in June 2019 from 50 in the previous month and beating market consensus of 50. The reading pointed to the strongest expansion in the services sector in three months, as new work increased due to both the domestic and foreign market amid greater demand from the UK and Eastern European countries. Also, the job creation rate went up at the sharpest pace since August 2007. Meantime, work outstanding dropped for the third consecutive month during June, the rate of backlog depletion was marginal. On the price front, input cost inflation slowed to a 6-month low while output prices fell for the seventh straight month. Lastly, sentiment improved as optimism was at its highest level in over a year amid expectations regarding sales activity and foreign orders.


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.

Italy Business Last Previous Highest Lowest Unit
Business Confidence 99.10 99.00 121.52 71.50 points [+]
Services PMI 51.10 50.40 57.70 42.30 points [+]
Manufacturing PMI 46.20 47.60 59.00 46.20 points [+]
Industrial Production -0.60 -2.40 17.50 -25.90 percent [+]
Industrial Production Mom 0.10 -0.30 13.50 -14.80 percent [+]
Manufacturing Production -0.50 -2.70 19.40 -27.00 percent [+]
Capacity Utilization 77.10 77.20 81.00 64.90 percent [+]
New Orders 112.20 108.90 140.30 4.16 points [+]
Factory Orders 0.60 0.90 14.30 -12.30 percent [+]
Changes in Inventories -1819.20 -4224.10 4997.70 -4224.10 EUR Million [+]
Zew Economic Sentiment Index -9.20 -7.60 80.40 -61.60 [+]
Car Registrations 140075.00 150587.00 310337.00 53296.00 [+]
Internet Speed 9210.65 8669.14 9210.65 2453.86 KBps [+]
IP Addresses 13315518.00 13117319.00 18750460.00 5491532.00 IP [+]
Manufacturing Sales 0.60 0.20 7.70 -6.60 percent [+]
Mining Production 1.90 -8.10 47.30 -26.20 percent [+]
Steel Production 1971.00 2225.00 3033.00 750.00 Thousand Tonnes [+]
Competitiveness Index 71.53 70.77 71.53 4.30 Points [+]
Competitiveness Rank 30.00 31.00 49.00 30.00 [+]
Composite Pmi 49.30 49.60 59.00 48.80 points [+]
Bankruptcies 2844.00 2823.00 4543.00 955.00 Companies [+]
Ease of Doing Business 58.00 51.00 87.00 44.00 [+]
Electricity Production 25294.00 28964.00 29587.00 21347.00 Gigawatt-hour [+]
Corruption Index 52.00 50.00 55.00 29.90 Points [+]
Corruption Rank 53.00 54.00 72.00 29.00 [+]