The IHS Markit Italy Services PMI jumped to 53.1 in May 2021, from 47.3 in the previous month and above market expectations of 52.5, pointing to the first month of output expansion since July 2020 and the strongest growth since March 2019. New business growth was the most marked for over three years, as demand was boosted by company re-openings amid looser COVID-19 restrictions. New export orders, however, continued to decline. Elsewhere, services employment stabilized, following a 14-month sequence of reduction, with some firms saying they were taking on staff to alleviate capacity pressures. On the price front, cost burdens facing Italian services firms rose at the quickest rate since April 2012, while average charges were increased for the first time in nearly two years. Looking ahead, business sentiment was the strongest for over 11 years. source: Markit Economics
Services PMI in Italy averaged 49.27 points from 2011 until 2021, reaching an all time high of 57.70 points in January of 2018 and a record low of 10.80 points in April of 2020. This page provides the latest reported value for - Italy Services PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Italy Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on June of 2021.
Services PMI in Italy is expected to be 52.90 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services PMI in Italy to stand at 53.60 in 12 months time. In the long-term, the Italy Services PMI is projected to trend around 55.00 points in 2022 and 54.40 points in 2023, according to our econometric models.