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.