Italy Manufacturing Proves Resilient

2026-04-01 08:15 By Luisa Carvalho 1 min. read

The S&P Global Italy Manufacturing PMI rose to 51.3 in March 2026 from 50.6 in February and above market forecasts of 50.9.

While signaling only a modest improvement in operating conditions, the reading marked the strongest performance in over three years.

Output increased for a second consecutive month, though growth slowed and remained modest, while order books edged up as buyers sought to get ahead of expected price rises.

Export sales grew marginally for the first time in four months, and employment also rose.

Purchasing increased for the first time in over three years, resulting in the first rise in inventories in eight months as manufacturers anticipated supply chain disruptions and higher prices.

The Middle East war pushed input lead times to their longest since October 2022 due to shortages and logistical issues.

Rising raw materials, transport, and energy pushed input costs and selling prices to three-year highs.

Looking ahead, business sentiment stayed positive.



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Italy Manufacturing Proves Resilient
The S&P Global Italy Manufacturing PMI rose to 51.3 in March 2026 from 50.6 in February and above market forecasts of 50.9. While signaling only a modest improvement in operating conditions, the reading marked the strongest performance in over three years. Output increased for a second consecutive month, though growth slowed and remained modest, while order books edged up as buyers sought to get ahead of expected price rises. Export sales grew marginally for the first time in four months, and employment also rose. Purchasing increased for the first time in over three years, resulting in the first rise in inventories in eight months as manufacturers anticipated supply chain disruptions and higher prices. The Middle East war pushed input lead times to their longest since October 2022 due to shortages and logistical issues. Rising raw materials, transport, and energy pushed input costs and selling prices to three-year highs. Looking ahead, business sentiment stayed positive.
2026-04-01
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