The IHS Markit Italy Services PMI fell to 52.4 in October of 2021 from 55.5 in the previous month, below market forecasts of 54.5, pointing to the slowest expansion in the sector since business conditions became favorable in May. Output grew at a robust but softer pace, amid strong domestic client demand and new work, while business activity abroad declined for the first time in the current sequence of expansion. Still, capacity pressures intensified further due to logistical issues and shortages of inputs, translating in a rise of unfulfilled work and in an acceleration in backlogs of work. In response, firms took on more staff. Cost pressures from energy and utility prices and material shortages drove the rate of input price inflation to its fastest in thirteen years, which firms were able to partially pass onto customers. Finally, business confidence remained elevated on optimism about future sales, lifting of restrictions and sustained economic recovery. source: Markit Economics
Services PMI in Italy averaged 49.54 points from 2011 until 2021, reaching an all time high of 58 points in July of 2021 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 November of 2021.
Services PMI in Italy is expected to be 54.90 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. 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.