The S&P Global Italy Composite PMI inched up to 50.8 in June 2026 from 50.4 in May, indicating a modest improvement in overall business conditions. This was the highest reading since February, reflecting simultaneous growth across both manufacturing and services. New orders increased for the first time in four months, with the services sector outperforming manufacturing by recording a stronger rise in new business.
Nevertheless, employment growth eased to almost stagnant levels, coinciding with the sharpest decline in backlogs of work in 17 months. Inflationary pressures also weakened, falling to their lowest point since February. Even so, both input and output price inflation remained more pronounced in manufacturing than in the services sector.
