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2026-11-05 16:48:29
[Italian Construction Activity Slows in October] The S&P Global Italy Construction PMI rose to 47.3 in October, up from 46.5 in September. The latest reading showed the smallest decline in three months, far below the four-year record set in August. Despite a sharp drop in new orders, the index still showed improvement; the decline in new orders was the fastest since August 2024 and the second steepest in 50 months. Construction activity continued to contract in all three monitored sub-sectors, with residential construction and civil engineering again experiencing the largest declines. Businesses remained cautious in their purchasing activities but continued to add employment. Furthermore, the ongoing conflict in the Middle East further disrupted supply chains, with supplier delivery times extending by the largest margin in more than two and a half years. The conflict also contributed to persistently high cost inflation. Looking ahead, business confidence weakened, falling into negative territory for the first time in three months.
