The IHS Markit Italy Services PMI increased to 48.8 in September of 2020 from 47.1 in August, beating market forecasts of 46.6. Still, the reading pointed to the second straight decline in services activity and the 6th in seven months due to the coronavirus crisis. Business activity declined for the second month running, while the level of total new business fell marginally again. International demand remained weak, as new export orders fell at a slightly quicker pace and markedly. Subsequently, firms reduced their workforce numbers again. The rate of job shedding was the slowest in the current seven-month sequence of job cuts, but nonetheless remained solid. Meanwhile, the Future Activity Index reached the highest since March 2018 and signalled a robust level of confidence with regards to output over the coming 12-months.
Services PMI in Italy averaged 49.50 points from 2011 until 2020, 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 October of 2020. source: Markit Economics
Services PMI in Italy is expected to be 44.00 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 52.50 in 12 months time. In the long-term, the Italy Services PMI is projected to trend around 52.90 points in 2021 and 54.40 points in 2022, according to our econometric models.