Italy’s private sector started 2026 on a firmer footing, with the HCOB Italy Composite PMI edging up to 51.4 in January 2026 from 50.3 in December 2025. The latest reading, published on 4 February 2026, signals a quicker expansion in overall business activity and keeps the index comfortably above the 50.0 threshold that separates growth from contraction.
The improvement suggests a broadening recovery across Italy’s combined manufacturing and services sectors, following a more tentative upturn at the end of last year. While the December figure had just nudged the economy into expansionary territory, January’s stronger print points to a more solid start to the year and hints at gradually improving conditions for output and corporate activity.
With the composite index now moving further into positive territory, investors and policymakers will be watching upcoming releases closely to see whether this momentum can be sustained and potentially translate into more robust growth for the Italian economy over the coming months.
