FX.co ★ Italian Manufacturing Sector Growth Eases in June

The S&P Global Italy Manufacturing PMI slipped to 52.2 in June 2026 from 52.9 in May, coming in below market expectations of 52.6. Although the index remains in expansionary territory and still reflects one of the strongest performances in more than four years, growth in output, new orders, and employment has lost momentum. The sector is still drawing some support from earlier stockpiling, but June’s figures indicate that this boost is starting to wane. In response to the slowdown, manufacturers scaled back their purchasing activity, even as inventories of inputs continued to rise. At the same time, persistent supply chain disruptions—intensified by the conflict in the Middle East—further weighed on supplier performance. On the upside, both input and output price inflation eased from multi-year highs, and business sentiment strengthened, underpinned by expectations of a resolution to the Middle East conflict.