Italy Composite PMI2021 Data | 2022 Forecast | 2013-2020 Historical | Calendar

The IHS Markit Italy Composite PMI rose to 57.6 in November 2021, from 54.2 in October, pointing to a 10th straight monthly upturn in the private sector output, with the rate of growth the fastest since August and sharp overall. Manufacturing production growth quickened to a five-month high and services output increased at a quicker pace and one that was solid. Total new orders increased the most in three months helped by a near record uplift in new export orders, and the pace of job creation accelerated, while capacity pressures intensified as the level of outstanding business rose at a survey record pace. On the price front, input and output costs rose at record rates. Finally, business confidence remained historically strong, although sentiment was the weakest since January.

The IHS Markit Italy Composite PMI fell to 54.2 in October of 2021 from 56.6 in September, pointing to the slowest growth in the private sector since April. Goods producers lead the expansion with the third highest reading on record (61.1 vs 59.7 in September), while growth in the service sector moderated to the softest pace since May (52.4 vs 55.5). Driving the overall upturn was a further sharp rise in inflows of new work to Italian companies, mainly in the manufacturing sector. October data also highlighted intensifying capacity pressure, as backlogs of work piled up at the quickest rate since June, to which firms responded by increasing their workforces. On the price front, costs of inputs rose at the second fastest pace on record, which translated into another sharp increase in output prices, more significantly in the manufacturing sector.

The IHS Markit Italy Composite PMI fell to 56.6 in September of 2021 from a 15-year high of 59.1 in August, pointing to the slowest although solid growth in private sector activity in four months. Goods producers continued to lead the expansion (59.7 vs 60.9 in August), recording a quicker upturn than the service sector (55.5 vs 58), although both saw the rate of increase in output slow on the month. Driving the overall upturn was a further sharp rise in inflows of new work to Italian companies. Order book growth did slow to a five-month low, but remained sharp nonetheless. September data also highlighted a further round of job creation, extending the current sequence to five months. Cost pressures intensified further in September, with the rate of input price inflation accelerating since August to a rapid pace. Subsequently, firms raised their selling prices sharply. Finally, business confidence edged up to a three-month high and remained historically elevated.