The IHS Markit Italy Services PMI edged down to 48.6 in March of 2021 from 48.8 in the previous month and below market expectations of 49. The latest reading signaled an eighth straight monthly contraction in service sector output, albeit one that was marginal overall. Business activity declined further, and at a slightly accelerated pace, amid a renewed dip in new work. As a result, firms continued to trim their workforce numbers during March, with the rate of job shedding quickening on the month. Nonetheless, the ongoing coronavirus disease vaccine rollout and hopes of a recovery buoyed business confidence during March, with sentiment the strongest for over a decade. source: Markit Economics
Services PMI in Italy averaged 49.26 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 April 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.