The S&P Global Italy Services PMI fell to 53.7 in May of 2022 from 55.7 in the previous period, missing market expectations of 54.5. While at a slower pace, it marked the fourth consecutive month of growth, underpinned by inflows of new work as both domestic and foreign demand were seen higher. The upturn in business activity prompted capacity pressures to emerge, as backlogs of work increased during the period. Consequently, service providers reported a sharp increase in employment to match higher levels of outstanding business, extending employment growth streak to 12 months. Meanwhile, firms continued to face heightened inflationary pressures due to greater material and energy costs. In response, client prices also rose, although the pace eased slightly from last month’s record. Looking forward, the business outlook for next year sharply moderated, with respondents citing concerns with inflation, a possible economic downturn, and financial market instability. source: Markit Economics

Services PMI in Italy averaged 49.73 points from 2011 until 2022, 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 July of 2022.

Services PMI in Italy is expected to be 53.10 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 54.80 points in 2023 and 52.00 points in 2024, according to our econometric models.

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Italy Services PMI



Related Last Previous Unit Reference
Manufacturing PMI 50.90 51.90 points Jun 2022
Services PMI 53.70 55.70 points May 2022
Composite PMI 52.40 54.50 points May 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
53.70 55.70 58.00 10.80 2011 - 2022 points Monthly

News Stream
Italy Services Sector Growth Eases in May
The S&P Global Italy Services PMI fell to 53.7 in May of 2022 from 55.7 in the previous period, missing market expectations of 54.5. While at a slower pace, it marked the fourth consecutive month of growth, underpinned by inflows of new work as both domestic and foreign demand were seen higher. The upturn in business activity prompted capacity pressures to emerge, as backlogs of work increased during the period. Consequently, service providers reported a sharp increase in employment to match higher levels of outstanding business, extending employment growth streak to 12 months. Meanwhile, firms continued to face heightened inflationary pressures due to greater material and energy costs. In response, client prices also rose, although the pace eased slightly from last month’s record. Looking forward, the business outlook for next year sharply moderated, with respondents citing concerns with inflation, a possible economic downturn, and financial market instability.
2022-06-03
Italy Services PMI Beats Forecasts
The S&P Global Italy Services PMI rose to 55.7 in April of 2022 from 52.1 in the previous period and above market expectations of 54.5. It marked the third consecutive month of growth and the highest since November, underpinned by a significant increase new work as both domestic and foreign demand were seen higher. The upturn in business activity prompted service providers to increase employment at the sharpest rate since 2007. Consequently, higher capacity from the improved staff levels lowered the level of outstanding businesses. However, prices continued to rise steeply in April, recording the second-highest cost inflation figure, slightly easing from the previous month’s record. In response, firms continued to raise prices for consumers, with charge inflation coming at a survey record. Looking forward, stronger demand conditions and a rebound in tourism improved business confidence.
2022-05-04
Italy Services Sector Growth Eases in March
The S&P Global Italy Services PMI fell to 52.1 in March of 2022 from 52.8 in the previous month, above market expectations of 51.5. Despite the slower rate, it was the second consecutive month of growth, underpinned by an eased uplift in new work, due in part to a decline in export orders with panelists citing the war in Ukraine to have weighed on demand. Still, orders continued to outpace business activity and the level of outstanding business at Italian service providers rose for the seventh consecutive month. Consequently, firms registered an expansion in the workforce for the 11th consecutive month in the continued effort to ease capacity pressures. On the price front, companies registered more intense inflationary pressures, attributed to surging fuel, energy, staff, and materials costs. Looking forward, confidence for Italian service providers moderated for the coming year, pointing to the lowest positive outlook since November of 2020.
2022-04-05