The HCOB Italy Composite PMI rose to 51.7 in August 2025 from 51.5 in July, reaching a three-month high and signaling continued private sector growth. The improvement was driven by renewed growth in manufacturing (50.4 vs. 49.8), which offset a softer expansion in services (51.5 vs. 52.3). New business inflows accelerated to their strongest pace in 16 months, largely led by services, though manufacturing orders also increased slightly for the first time in nearly 18 months. Employment continued to grow steadily, while backlogs of work fell further, highlighting spare capacity, particularly among manufacturers. On costs, services firms reported rising operating expenses, while manufacturers saw a slight easing in input prices. Overall cost inflation remained sharp, though output charges rose at the slowest pace since November 2024. Business confidence, however, weakened to a four-month low. source: S&P Global

Composite PMI in Italy increased to 51.70 points in August from 51.50 points in July of 2025. Composite PMI in Italy averaged 51.21 points from 2013 until 2025, reaching an all time high of 59.10 points in August of 2021 and a record low of 10.90 points in April of 2020. This page provides - Italy Composite Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Composite PMI in Italy increased to 51.70 points in August from 51.50 points in July of 2025. Composite PMI in Italy is expected to be 50.70 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Italy Composite PMI is projected to trend around 52.50 points in 2026 and 52.90 points in 2027, according to our econometric models.



Related Last Previous Unit Reference
Business Confidence 87.40 87.80 points Aug 2025
Capacity Utilization 75.50 75.10 percent Sep 2025
Car Registrations 67272.00 118493.00 Units Aug 2025
Changes in Inventories 1633.60 2159.70 EUR Million Mar 2025
Composite Leading Indicator 100.11 100.03 points Jun 2025
Corruption Index 54.00 56.00 Points Dec 2024
Corruption Rank 52.00 42.00 Dec 2024
Electricity Price 111.12 72.41 EUR/MWh Sep 2025
Electricity Production 25722.00 23595.00 Gigawatt-hour Jul 2025
Industrial Production YoY -0.90 -1.00 percent Jun 2025
Industrial Production MoM 0.20 -0.80 percent Jun 2025
Manufacturing Production -1.64 -1.44 percent Jun 2025
Industrial Sales YoY 1.20 -2.10 percent Jun 2025
Mining Production 6.33 5.13 percent Jun 2025
Natural Gas Stocks Capacity 202.95 202.95 TWh Sep 2025
Natural Gas Stocks Injection 197.40 249.07 GWh/d Sep 2025
Natural Gas Stocks Inventory 181.13 180.95 TWh Sep 2025
Natural Gas Stocks Withdrawal 8.00 6.80 GWh/d Sep 2025
New Car Registrations YoY -2.70 -5.10 percent Aug 2025

Italy Composite PMI
The Italy Composite PMI is a weighted average of the Manufacturing Output Index and the Services Business Activity Index. Survey responses reflect the change, if any, in the current month compared to the previous month based on data collected mid-month. For each of the indicators the ‘Report' shows the percentage reporting each response, the net difference between the number of higher/better responses and lower/worse responses, and the ‘diffusion' index. This index is the sum of the positive responses plus a half of those responding ‘the same'. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

News Stream
Italian Private Sector Growth Hits 3-Month High
The HCOB Italy Composite PMI rose to 51.7 in August 2025 from 51.5 in July, reaching a three-month high and signaling continued private sector growth. The improvement was driven by renewed growth in manufacturing (50.4 vs. 49.8), which offset a softer expansion in services (51.5 vs. 52.3). New business inflows accelerated to their strongest pace in 16 months, largely led by services, though manufacturing orders also increased slightly for the first time in nearly 18 months. Employment continued to grow steadily, while backlogs of work fell further, highlighting spare capacity, particularly among manufacturers. On costs, services firms reported rising operating expenses, while manufacturers saw a slight easing in input prices. Overall cost inflation remained sharp, though output charges rose at the slowest pace since November 2024. Business confidence, however, weakened to a four-month low.
2025-09-03
Italian Private Sector Regains Growth Momentum
The HCOB Italy Composite PMI rose slightly to 51.5 in July 2025 from 51.1 in June, signaling modest private sector growth at the start of Q3. The expansion continued to be driven by services (PMI at 52.3), while manufacturing output fell again (PMI at 49.8). This sectoral split was mirrored in new orders: overall inflows grew only slightly, and export orders declined, though the pace of decline eased from June. Employment rose modestly but at a softer pace, as backlogs of work continued to fall across both sectors, especially in manufacturing. Despite softer input cost pressures, the weakest since last November, firms raised their selling prices at the fastest rate in 15 months, suggesting resilient demand or margin recovery.
2025-08-05
Italian Private Sector Activity Growth at 3-Month Low
Italy’s HCOB Composite PMI fell to 51.1 in June 2025 from 52.5 in May, marking the weakest expansion since March. The slowdown was driven by softer growth in services (PMI at 52.1) and a renewed contraction in manufacturing (PMI at 48.4). New business inflows also weakened, with growth in new orders concentrated solely in the service sector. Despite this, private sector employment rose at the fastest pace in a year, even as factories continued to cut jobs. Signs of spare capacity persisted, with backlogs of work falling at a slightly faster pace than the previous month. Input costs rose across the private sector, though output charge inflation eased to its lowest level in 2025. Price increases were confined to services, while manufacturers saw declines in both costs and selling prices. Business confidence about future activity remained largely unchanged from May, reflecting cautious optimism amid mixed sector trends.
2025-07-03