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.

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Italy Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
48.60 48.80 57.70 10.80 2011 - 2021 points Monthly


News Stream
Italy Services Downturn Unexpectedly Worsens
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.
2021-04-07
Italy Services Sector Shrinks the Least in 5 Months
The IHS Markit Italy Services PMI rose to 48.8 in February of 2021 from 44.7 in the previous month and above market expectations of 46. Still, the latest reading pointed to the seventh consecutive monthly fall in the activity but the rate of decline was the slowest since last September, while the level of new business stabilized. New export orders extended the current sequence of contraction to 20 months but marked the lowest decrease since last February and the fall in employment was the slowest in the current year-long sequence of decline. Looking ahead, service providers recorded the most upbeat year-ahead activity expectations since May 2011 during February.
2021-03-03
Italy Services Sector Contracts Less than Expected
The IHS Markit Italy Services PMI rose to 44.7 in January of 2021 from 39.7 in the previous month, easily beating market expectations of 39.5. Still, the latest reading pointed to the sixth consecutive fall in the activity and signaled another marked decline overall linked to falling inflows of new work amid weak client demand and ongoing coronavirus disease 2019 related measures. Business activity and new orders continued to fall, although the rates of decline eased to the slowest for three and four months respectively. Meanwhile, sentiment with regards to activity over the next year ticked higher, with confidence attributed by panellists to hopes of looser restrictions and a solid economic recovery.
2021-02-03
Italy Services Sector Contracts More than Expected
The IHS Markit Italy Services PMI edged up to 39.7 in December of 2020 from 39.4 in the previous month, well below market expectations of 45.3. The latest reading pointed to the fifth consecutive fall in the activity and signaled another marked decline overall, as coronavirus disease related measures continue to take their toll on the sector. Inflows of new work also declined, with the rate of contraction easing only marginally and remaining marked overall. Subsequently, companies continued to trim their staff numbers during December. Positive news of a vaccine and hopes of a strong economic recovery boosted sentiment, however, with confidence climbing to a three-month high.
2021-01-06

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.