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2026-04-07 16:11:49
[Italy's March Services PMI Falls to 48.8, First Contraction Since 2024] ⑴ The S&P Global Italy Services Purchasing Managers' Index (PMI) fell to 48.8 in March from 51.0 in February, well below market expectations of 52.3. This marks the first return to contraction territory since November 2024, driven by reduced activity following the Winter Olympics, weak overall demand, and declining output due to increased international uncertainty. ⑵ New business also contracted for the first time in over a year, with the largest drop since November 2024. Meanwhile, employment remained largely unchanged from February, with limited hiring offset by layoffs elsewhere. ⑶ On the price front, input costs surged to their highest level in over three years, reflecting higher wage pressures and rising costs of raw materials, energy, and fuel, largely related to the ongoing conflict in the Middle East. Business confidence fell to a seven-month low.
