The IHS Markit Italy Services PMI increased to 28.9 in May of 2020 from a record low of 10.8 in the previous month and above market expectations of 26.5. Both activity and total new business declined further, although the rates of decline softened from April as some parts of the economy began to reopen amid loosening lockdown restrictions. Foreign demand also dropped, with the rate of decline among the quickest on record, albeit softer than in the previous survey period. Job cuts continued, however, with the reduction in staff numbers among the quickest on record. On the price front, average input costs fell for the third successive month amid lower fuel and staff costs; average charges dropped for the tenth month running and at the second-quickest pace since April 2009 on continued discount selling prices to encourage sales. Finally, activity expectations improved further from March’s nadir, but remained among the weakest in the series history.

Services PMI in Italy averaged 49.54 points from 2011 until 2020, 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 June of 2020. source: Markit Economics

Services PMI in Italy is expected to be 36.00 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 50.00 in 12 months time. In the long-term, the Italy Services PMI is projected to trend around 52.90 points in 2021 and 54.40 points in 2022, according to our econometric models.

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Italy Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
28.90 10.80 57.70 10.80 2011 - 2020 points Monthly


News Stream
Italy Services PMI Contracts Less than Expected in May
The IHS Markit Italy Services PMI increased to 28.9 in May of 2020 from a record low of 10.8 in the previous month and above market expectations of 26.5. Both activity and total new business declined further, although the rates of decline softened from April as some parts of the economy began to reopen amid loosening lockdown restrictions. Foreign demand also dropped, with the rate of decline among the quickest on record, albeit softer than in the previous survey period. Job cuts continued, however, with the reduction in staff numbers among the quickest on record. On the price front, average input costs fell for the third successive month amid lower fuel and staff costs; average charges dropped for the tenth month running and at the second-quickest pace since April 2009 on continued discount selling prices to encourage sales. Finally, activity expectations improved further from March’s nadir, but remained among the weakest in the series history.
2020-06-03
Italy Services Activity Suffers Unprecedented Fall
The IHS Markit Italy Services PMI declined to 10.8 in April of 2020 from 17.4 in the previous month but better than market expectations of 9. The reading pointed to a new record contraction in the services sector as the economic fallout from the coronavirus disease 2019 (COVID-19) virus intensified. Business activity and new business both declined at the sharpest rates in more than 22 years of data collection, with panellists linking the falls to lockdown measures and muted client demand stemming from the pandemic. Workforce numbers continued to decline, with the rate of job shedding accelerating to the most marked on record. Meanwhile, expectations with regards to output remained negative, although sentiment picked up slightly from March's nadir.
2020-05-06
Italy Services PMI Lowest on Record
The IHS Markit Italy Services PMI slumped to 17.4 in March of 2020 from 52.1 in February and much worse than market expectations of 22. The reading pointed to a record contraction in the services sector due to emergency measures and shutdowns designed to restrict the COVID-19 outbreak. Record declines were also recorded in new business and employment while input prices fell the most since the series began. Also, business confidence collapsed and reached the lowest level on record amid substantial uncertainty relating to the coronavirus pandemic.
2020-04-03
Italy Services Sector Growth At 4-Month High
The IHS Markit Italy Services PMI increased to 52.1 in February 2020 from 51.4 in the previous month and above market forecasts of 51.4. The reading pointed to the strongest expansion in the services sector since October 2019, as new orders rose at the fastest rate for four months. Meantime, the rate of job creation gathered pace from January while new export orders fell for the eighth month running. On the price front, input price inflation was the quickest since last October amid greater utility and staff costs; while output prices declined for the seventh consecutive month as competitive pressures led to continue discounting. Finally, sentiment moderated slightly but firms remained confident output would rise over the next 12 months amid hopes of improved sales.
2020-03-04

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.