FX.co ★ Italy Private Sector Growth Eases to 5-Month Low

The S&P Global Italy Composite PMI slipped to 50.8 in October 2026 from 51.0 in September, its lowest reading since May, indicating that private sector activity continued to expand, though only modestly. The slight loss of momentum was driven by a sharper decline in manufacturing output, which outweighed stronger growth in the services economy. Overall new business rose at a mild pace, with services remaining the only sector to register an increase. Employment expanded slightly, broadly in line with the historical series average. At the same time, cost pressures intensified to their highest level in four years, with both manufacturing and services contributing to the rise. Output charge inflation also quickened, reaching its fastest rate since the start of 2023.