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.

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Italy Services PMI


Related Last Previous Unit Reference
Services PMI 52.40 55.50 points Oct/21
Manufacturing PMI 61.10 59.70 points Oct/21
Composite PMI 54.20 56.60 points Oct/21

News Stream
Italian Service Sector Expands the Least Since May
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.
2021-11-04
Italy Services Growth Slows
The IHS Markit Italy Services PMI fell to 55.5 in September of 2021 from 58 in each of the previous two months which was the highest reading in 14 years. Figures compare with market forecasts of 56.5 and point to the slowest although solid growth in the services sector in four months. Output continued to increase sharply, amid reports of strong client demand, although the rate of expansion eased to the slowest since May. This was due, in part, to a similar slowdown in growth of new work which rose at the slowest pace in the current five-month sequence of expansion - although still sharply overall - amid a broad stagnation in inflows of new business from abroad. Cost pressures continued to spillover into the services sector, as the rate of input price inflation accelerated to the second-fastest for nearly a decade. Finally, business confidence was the highest in three months.
2021-10-05
Italy Services Growth Holds at 14-Year High
The IHS Markit Italy Services PMI was steady at a 14-year high of 58 in August of 2021, the same as in July and compared to market forecasts of 58.5. New business rose rapidly again, amid strong demand conditions and the resumption of international travel, while inflationary pressures eased on the month, although nonetheless remained marked. At the same time, firms continued to raise their staffing levels, extending the current sequence of job creation which began in May. According to panellists, additional staff were being hired to deal with greater activity requirements and in anticipation of strong future demand. Meanwhile, business sentiment moderated to a 6-month low with concerns surrounding the pandemic, spread of variants and potential for stricter lockdown measures noted by some respondents.
2021-09-03

Italy Services PMI
Markit/ADACI Italy Services PMI (Purchasing Managers' Index) is based on data collected from a representative panel of around 400 companies based in the Italian service sector. The index tracks variables such as sales, employment, inventories and prices. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining.