Italy Private Sector Growth Eases to 5-Month Low

2026-11-04 08:51 By Mariene Camarillo 1 min. read

The S&P Global Italy Composite PMI edged down to 50.8 in October 2026 from 51.0 in September, marking its lowest level since May while signaling a continued but modest expansion in private sector activity.

The slight slowdown reflected a faster contraction in manufacturing output, which offset stronger growth in the services sector.

New business continued to increase modestly, with services remaining the sole source of expansion.

Employment also rose slightly, broadly in line with the series average.

Meanwhile, cost pressures intensified to their strongest level in four years, with both manufacturing and services contributing to the increase.

Output charge inflation also accelerated to its highest rate since the start of 2023.



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Italy Private Sector Growth Eases to 5-Month Low
The S&P Global Italy Composite PMI edged down to 50.8 in October 2026 from 51.0 in September, marking its lowest level since May while signaling a continued but modest expansion in private sector activity. The slight slowdown reflected a faster contraction in manufacturing output, which offset stronger growth in the services sector. New business continued to increase modestly, with services remaining the sole source of expansion. Employment also rose slightly, broadly in line with the series average. Meanwhile, cost pressures intensified to their strongest level in four years, with both manufacturing and services contributing to the increase. Output charge inflation also accelerated to its highest rate since the start of 2023.
2026-11-04
Italy Private Sector Hits 3-Month Low
The S&P Global Italy Composite PMI slipped to 51.0 in September 2026 from 53.6 in August, marking its lowest level since June and signaling modest output growth, with the weakest expansion recorded in the third quarter. Growth in both business activity and new orders remained concentrated in the services sector, while manufacturing continued to contract, albeit at a slower pace. Employment growth across the private sector eased to a near-stagnant rate, and outstanding business volumes declined only marginally. Meanwhile, inflationary pressures strengthened, with both input costs and output charges rising at the fastest pace in four months.
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The S&P Global Italy Composite PMI rose to 53.6 in August 2026 from 52.5 in July, signaling the fastest private-sector expansion since November 2025 and the second-strongest reading in more than three years. Growth was driven by a stronger services sector, which offset a renewed decline in manufacturing output. New business followed a similar pattern, with the drop in new orders at goods producers accelerating. Employment growth strengthened to its fastest pace in more than two years, while the pace of backlog depletion remained moderate. Inflationary pressures eased, although business confidence fell to a three-month low.
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