Italia Pmi Composite

The HCOB Italy Composite PMI increased to 51.1 in February 2024 from 50.7 in the previous month, marking the second positive reading after seven months of contractions in the country's private sector activity. The rebound was attributed to a sharper expansion in services activity (52.2 vs 51.2 in January), which offset a softer contraction in manufacturing (48.7 vs 48.5). Aggregate new business rose at a marginal pace due to the discrepancy between sectors regarding their output levels. Both service sector firms and factories added to their workforce. In the meantime, the price pressures lingered, driven mainly by an upturn in operating expenses for service sector companies.