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. source: Markit Economics
Services PMI in Italy averaged 49.31 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 January of 2021.
Services PMI in Italy is expected to be 50.00 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 52.90 in 12 months time. In the long-term, the Italy Services PMI is projected to trend around 52.90 points in 2022 and 54.40 points in 2023, according to our econometric models.