The S&P Global Italy Services PMI rose to 51.6 in February of 2023 from 51.2 in January, missing market expectations of 53.1 but still extending last month’s rebound to expand at the fastest pace in eight months. Growth in the sector was supported by a solid increase in volumes of incoming new business, with client demand rising amid signs of an economic recovery, especially in the domestic market. Still, firms noted evidence of excess capacity in the sector during the period, driving hiring activity to slow significantly in the period. On the price front, input cost inflation decelerated to a 16-month low as lower energy prices weighed against higher operating costs, although output price inflation remained elevated. Service providers signaled optimism for the future, albeit with a cautious attitude as monetary conditions in the Eurozone will still increase. source: Markit Economics

Services PMI in Italy averaged 49.73 points from 2011 until 2023, reaching an all time high of 58.00 points in July of 2021 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 March of 2023.

Services PMI in Italy is expected to be 51.30 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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Italy Services PMI



Related Last Previous Unit Reference
Services PMI 51.60 51.20 points Feb 2023
Manufacturing PMI 52.00 50.40 points Feb 2023
Composite PMI 52.20 51.20 points Feb 2023

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.
Actual Previous Highest Lowest Dates Unit Frequency
51.60 51.20 58.00 10.80 2011 - 2023 points Monthly

News Stream
Italian Services Activity Expands for 2nd Month
The S&P Global Italy Services PMI rose to 51.6 in February of 2023 from 51.2 in January, missing market expectations of 53.1 but still extending last month’s rebound to expand at the fastest pace in eight months. Growth in the sector was supported by a solid increase in volumes of incoming new business, with client demand rising amid signs of an economic recovery, especially in the domestic market. Still, firms noted evidence of excess capacity in the sector during the period, driving hiring activity to slow significantly in the period. On the price front, input cost inflation decelerated to a 16-month low as lower energy prices weighed against higher operating costs, although output price inflation remained elevated. Service providers signaled optimism for the future, albeit with a cautious attitude as monetary conditions in the Eurozone will still increase.
2023-03-03
Italian Services Sector Returns to Growth
The S&P Global Italy Services PMI rose to 51.2 in January 2023 from 49.9 in the previous month, mostly in line with market expectations. The services sector returned to growth after four months below par, underpinned by a modest rise in activity amid growing new business volumes, which increased for a second consecutive month on the back of higher demand. On top of that, companies continued to hire more employees, indicating a rising optimism about the future. On the price front, input cost inflation continued to ease but remained somewhat elevated, leading firms to raise output charges at the fastest pace on record. Finally, business morale in January improved to a nine-month high amid hopes of a decline in inflation and favorable macro conditions.
2023-02-03
Italy Services Activity Stable in December
The S&P Global Italy Services PMI edged higher to 49.9 in December of 2022 from 49.5 in November, beating market forecasts of 49.5. It is the highest seen since August, when growth in the services sector was last recorded. New work rose for the first time since June due to stronger client demand from the domestic market while inflows of new work from abroad decreased for the fifth month running. Meanwhile, outstanding business fell as lower sales earlier in the year allowed resources to be utilised to work on existing contracts; and employment rose marginally. On the price front, costs continued to rise albeit at a slower pace, due to greater fuel, commodity, energy and material prices. Looking ahead, Italian service providers remained, on average, optimistic towards the year-ahead outlook for business activity.
2023-01-04