The IHS Markit Italy Services PMI decreased to 47.3 in April of 2021 from 48.6 in the previous month and missed market expectations of 49.8. The latest reading signaled the ninth straight monthly contraction in the services sector, and the steepest since January. Business activity, new orders, and exports declined at the start of the new quarter, as pandemic-related restrictions continued to weigh on consumer demand. The lower sales volumes and activity requirements resulted in another cut in jobs. Inflationary pressure remained evident in input costs, with price hikes in fuel and raw materials, while output charges fell marginally. Looking ahead, firms were optimistic about a recovery in output levels as the vaccines rollout faster and the pandemic weighs less on demand. source: Markit Economics
Services PMI in Italy averaged 49.24 points from 2011 until 2021, 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 May of 2021.
Services PMI in Italy is expected to be 52.90 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 53.60 in 12 months time. In the long-term, the Italy Services PMI is projected to trend around 55.00 points in 2022 and 54.40 points in 2023, according to our econometric models.