The HCOB Italy Services PMI soared to 57.6 in April of 2023 from 55.7 in March, reflecting the fourth consecutive month of expansion for the Italian private sector and the fastest in 20 months. New incoming business continued to grow as firms reported increased levels of foreign and domestic demand, supporting higher output for the period. Amid new business requirements, Italian firms opted to increase staff at the sharpest pace in nearly one year, adding capacity and trimming levels of outstanding work from the previous month. Still, reports showed that input inflation accelerated considerably from the 18-month low in the previous month, lifting output charge prices. Looking forward, confidence in the sector improved despite the upswing in prices. source: Markit Economics
Services PMI in Italy averaged 49.83 points from 2011 until 2023, reaching an all time high of 58.00 points in July of 2021 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 2023.
Services PMI in Italy is expected to be 51.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Italy Services PMI is projected to trend around 52.00 points in 2024 and 50.40 points in 2025, according to our econometric models.