The HCOB Italy Manufacturing PMI rose to 50.6 in February 2026, up from 48.1 in January and above the market consensus of 49.5. The reading, the highest in three months, indicated a slight improvement in operating conditions, as output and new orders increased following two months of decline, despite export sales falling at their fastest pace in five months amid elevated global uncertainty. Employment edged up only marginally, limiting purchases of inputs. Meanwhile, input cost inflation reached its highest level since October 2022, and output prices rose at the fastest pace in ten months. Business confidence, however, strengthened to its highest level in over five years. source: S&P Global

Manufacturing PMI in Italy increased to 50.60 points in February from 48.10 points in January of 2026. Manufacturing PMI in Italy averaged 51.32 points from 2012 until 2026, reaching an all time high of 62.80 points in November of 2021 and a record low of 31.10 points in April of 2020. This page provides the latest reported value for - Italy Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Manufacturing PMI in Italy increased to 50.60 points in February from 48.10 points in January of 2026. Manufacturing 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 Manufacturing PMI is projected to trend around 52.90 points in 2027 and 52.30 points in 2028, according to our econometric models.



Related Last Previous Unit Reference
Business Confidence 88.50 89.20 points Feb 2026
Capacity Utilization 74.70 75.00 percent Mar 2026
Car Registrations 157334.00 141980.00 Units Feb 2026
Changes in Inventories -583.40 2540.30 EUR Million Sep 2025
Composite Leading Indicator 101.40 101.30 points Feb 2026
Corruption Index 53.00 54.00 Points Dec 2025
Corruption Rank 52.00 52.00 Dec 2025
Electricity Price 146.58 72.41 EUR/MWh Mar 2026
Electricity Production 25259.00 22711.00 Gigawatt-hour Jan 2026
Industrial Production YoY -0.60 2.70 percent Jan 2026
Industrial Production MoM -0.60 -0.50 percent Jan 2026
Manufacturing Production 3.36 1.01 percent Dec 2025
Industrial Sales YoY 0.50 -0.20 percent Dec 2025
Mining Production -2.21 -4.41 percent Dec 2025
Natural Gas Stocks Capacity 203.35 203.35 TWh Mar 2026
Natural Gas Stocks Injection 5.65 27.69 GWh/d Mar 2026
Natural Gas Stocks Inventory 92.10 92.61 TWh Mar 2026
Natural Gas Stocks Withdrawal 513.60 556.80 GWh/d Mar 2026
New Car Registrations YoY 14.00 6.20 percent Feb 2026


Italy Manufacturing PMI
In Italy, the Markit Italy Manufacturing Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of 400 industrial companies. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change. 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 Manufacturing PMI Signals Modest Recovery
The HCOB Italy Manufacturing PMI rose to 50.6 in February 2026, up from 48.1 in January and above the market consensus of 49.5. The reading, the highest in three months, indicated a slight improvement in operating conditions, as output and new orders increased following two months of decline, despite export sales falling at their fastest pace in five months amid elevated global uncertainty. Employment edged up only marginally, limiting purchases of inputs. Meanwhile, input cost inflation reached its highest level since October 2022, and output prices rose at the fastest pace in ten months. Business confidence, however, strengthened to its highest level in over five years.
2026-03-02
Italy Manufacturing Sector Remains in Contraction
The HCOB Italy Manufacturing PMI rose slightly to 48.1 in January 2026 from 47.9 in December, in line with market expectations. Demand conditions were still weak, with new orders and exports falling again, though at a milder pace, reflecting fragile markets and some order cancellations. Production also declined modestly, limited by subdued demand and, in some cases, raw material constraints. Lower output led firms to cut purchases and reduce inventories, helping ease pressure on supply chains and shorten delivery times. Despite softer input demand, costs jumped at the fastest pace in over three years due to higher raw material prices, prompting manufacturers to raise selling prices. Employment was the only area of growth, with firms adding staff cautiously. Looking ahead, manufacturers were more optimistic, with confidence near a four and a half year high on hopes of new products, lower borrowing costs and a gradual sector recovery.
2026-02-02
Italy Manufacturing Sector Contracts in December
The HCOB Italy Manufacturing PMI fell to 47.9 in December 2025, down from 50.6 in November and below the 50.0 forecast. The decline marked the steepest downturn since March, led by consumer goods producers, while other segments experienced only mild contractions. New orders fell after a month of growth, weighed down by heightened uncertainty and sector-specific challenges, particularly in steel and autos. Output declined at the fastest pace in nine months, and employment continued to fall, marking a full quarter of job reductions. On the price front, input cost inflation eased from November’s three-year high, prompting manufacturers to modestly lower their selling prices. Despite the slowdown, sentiment improved slightly, supported by investment in product launches and plans to expand into new markets.
2026-01-02