The HCOB Italy Composite PMI rose to 51.4 in January 2026 from 50.3 in December, signaling regained momentum but still only a modest expansion in the private sector. Growth was led by the services sector, which recorded a stronger rise in activity, while the decline in manufacturing output eased. At the composite level, new orders increased at the slowest pace in six months, as demand in the services sector moderated and manufacturing sales continued to fall. Private sector employment edged higher, with both services and manufacturing adding staff, while outstanding work declined at a slower rate than in previous months. On prices, input costs rose, particularly for manufacturers, driving overall price pressures higher, and service providers raised charges at the fastest pace in six months. Looking ahead, sentiment softened, with service sector firms expressing more cautious expectations for growth in the months ahead. source: S&P Global

Composite PMI in Italy increased to 51.40 points in January from 50.30 points in December of 2025. Composite PMI in Italy averaged 51.24 points from 2013 until 2026, 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 51.40 points in January from 50.30 points in December of 2025. Composite PMI in Italy is expected to be 51.50 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 52.90 points in 2027, according to our econometric models.



Related Last Previous Unit Reference
Business Confidence 89.20 88.50 points Jan 2026
Capacity Utilization 75.10 75.10 percent Dec 2025
Car Registrations 141980.00 108075.00 Units Jan 2026
Changes in Inventories -583.40 2540.30 EUR Million Sep 2025
Composite Leading Indicator 101.74 101.50 points Jan 2026
Corruption Index 53.00 54.00 Points Dec 2025
Corruption Rank 52.00 52.00 Dec 2025
Electricity Price 112.12 72.41 EUR/MWh Feb 2026
Electricity Production 22711.00 21902.00 Gigawatt-hour Dec 2025
Industrial Production YoY 3.20 1.40 percent Dec 2025
Industrial Production MoM -0.40 1.50 percent Dec 2025
Manufacturing Production 3.36 1.01 percent Dec 2025
Industrial Sales YoY -0.10 -0.60 percent Nov 2025
Mining Production -2.21 -4.41 percent Dec 2025
Natural Gas Stocks Capacity 203.35 203.35 TWh Feb 2026
Natural Gas Stocks Injection 0.25 0.25 GWh/d Feb 2026
Natural Gas Stocks Inventory 101.85 102.63 TWh Feb 2026
Natural Gas Stocks Withdrawal 784.50 911.10 GWh/d Feb 2026
New Car Registrations YoY 6.20 2.20 percent Jan 2026


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
Italy Private Sector Regains Momentum
The HCOB Italy Composite PMI rose to 51.4 in January 2026 from 50.3 in December, signaling regained momentum but still only a modest expansion in the private sector. Growth was led by the services sector, which recorded a stronger rise in activity, while the decline in manufacturing output eased. At the composite level, new orders increased at the slowest pace in six months, as demand in the services sector moderated and manufacturing sales continued to fall. Private sector employment edged higher, with both services and manufacturing adding staff, while outstanding work declined at a slower rate than in previous months. On prices, input costs rose, particularly for manufacturers, driving overall price pressures higher, and service providers raised charges at the fastest pace in six months. Looking ahead, sentiment softened, with service sector firms expressing more cautious expectations for growth in the months ahead.
2026-02-04
Italy’s Composite PMI Slips in December
The HCOB Italy Composite PMI fell to 50.3 in December 2025, down sharply from November’s two-and-a-half-year high of 53.8, signaling the slowest pace of private sector expansion in nearly a year. Growth in the services sector moderated, while the manufacturing sector returned to contraction. At the composite level, new business expanded at its weakest rate in three months. Employment across the private sector remained unchanged in December, while firms were able to reduce outstanding business, supporting overall operational efficiency. Cost pressures eased broadly across manufacturing and services, contributing to a composite reading below its long-term average. Although the overall pace of price inflation softened, it remained elevated by historical standards. Looking ahead, manufacturers maintained a notably more positive outlook than their service sector peers, suggesting optimism about production prospects despite slowing activity.
2026-01-06
Italy Private Sector Growth Strongest in 2-½ Years
The HCOB Italy Composite PMI rose to 53.8 in November from 53.1 in October, marking the strongest expansion of Italy’s private sector since April 2023. Growth was led by the services sector (55 vs 54 in October), which recorded its fastest increase in output, while manufacturing returned to expansion (50.6 vs 49.9). New business increased broadly across both sectors, reflecting healthy domestic demand and modest gains in export orders. Private sector employment remained broadly unchanged, as deeper cuts in factory payrolls nearly offset higher hiring in services. Backlogs of work declined across both sectors. On the price front, input cost inflation reached its highest level in eight months, while average selling price increases were moderate but the fastest since July, particularly in services. Finally, business confidence improved, with optimism rising above its historical average.
2025-12-03