Itália PMI Composto

The HCOB Italy Composite PMI increased to 53.5 in March 2024 from 53.5 in February, pointing to the strongest growth in private sector activity in eleven months. The uptick was a result of ongoing service sector strength (54.6 vs 52.2), as well as renewed growth at manufacturers (50.4 vs 48.7). There was positive news on the demand front, with the strongest inflow of new work for almost two years amid a rapid uplift in services new business and a fractional rise in new orders at goods producers. Jobs growth was again broad-based, which a further drop in the level of outstanding business. Overall private sector cost pressures remained steep thanks to a marked rate of services input price inflation. Manufacturers, however, continued to report a fall in input costs, albeit at the softest pace in over a year. Amid relatively soft demand conditions, manufacturers continued to discount selling prices, while service sector firms raised their fees.