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.

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Italy Services PMI



Related Last Previous Unit Reference
Manufacturing PMI 45.90 46.80 points May 2023
Services PMI 57.60 55.70 points Apr 2023
Composite PMI 55.30 55.20 points Apr 2023

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.
Actual Previous Highest Lowest Dates Unit Frequency
57.60 55.70 58.00 10.80 2011 - 2023 points Monthly

News Stream
Italian Services PMI Rises to 20-Month High
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.
2023-05-04
Italy Services Activity Hits 11-Month High
The S&P Global Italy Services PMI expanded to 55.7 in March 2023 from 51.6 in the previous month, well above analysts' expectations of 53.2. It was the highest reading since April 2022, with new business volumes increasing at a rate not seen since November 2021 amid signs of robust demand. The new export business also improved for the first time since July 2022. Hence, employers hired more people due to the upbeat atmosphere, bringing the current growth streak to almost two years. On the price front, input costs continued to rise, mainly due to higher wages and supply charges, while output inflation fell to the lowest level in 14 months. Finally, firms remained overall optimistic about the next 12 months, albeit slightly less than in February.
2023-04-05
Italian Services Activity Expands for 2nd Month
The S&P Global Italy Services PMI rose to 51.6 in February of 2023 from 51.2 in January, missing market expectations of 53.1 but still extending last month’s rebound to expand at the fastest pace in eight months. Growth in the sector was supported by a solid increase in volumes of incoming new business, with client demand rising amid signs of an economic recovery, especially in the domestic market. Still, firms noted evidence of excess capacity in the sector during the period, driving hiring activity to slow significantly in the period. On the price front, input cost inflation decelerated to a 16-month low as lower energy prices weighed against higher operating costs, although output price inflation remained elevated. Service providers signaled optimism for the future, albeit with a cautious attitude as monetary conditions in the Eurozone will still increase.
2023-03-03