Italia Pmi Compuesto

The HCOB Italy Composite PMI fell to 52.6 in April of 2024 from the 11-month high of 53.5 in March, pointing to a slight slowdown in the pace of expansion for the Italian private sector. The downtick was a result of a downturn in activity among manufacturers (47.3 vs 50.4), enough to offset the ongoing service sector strength (54.3 vs 54.6). New orders at the aggregate level rose at a more moderate pace, again pressured by a decline for factories, but held up by sustained expansion for service providers. Still, job creation was noted for both sectors to notch the quickest increase since May 2023, increasing capacity and allowing companies to quickly deplete their work backlogs. In the meantime, firms continued to face increasing cost pressures amid continued inflation for services and the first uptick in costs for manufacturers in 15 months. The sharper rise for the former drove the steady increase in output charges.