Italian Construction PMI Returns to Growth in February

2026-03-05 08:42 By Joshua Ferrer 1 min. read

The HCOB Italy Construction PMI rose to 50.4 in February 2026 from 47.7 in January, signaling a renewed expansion in construction activity after three months of contraction.

Output growth was modest but marked the first increase since October, supported by improved order books and the launch of new building sites.

Residential and commercial construction both recovered from earlier declines, with housing activity rising at the fastest pace in over a year and commercial building reaching an 11-month high, while civil engineering remained in contraction.

New orders rose for the first time in four months and at the strongest pace since mid-2025, while employment continued to rise, extending a year-and-a-half stretch of job creation.

On prices, input cost inflation accelerated for a fifth straight month to the highest level in over three years, largely due to rising raw material prices.

Firms’ outlook for the next 12 months improved slightly but remained subdued by historical standards.



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