Italy Services PMI Contracts to 48.8

Italy's services PMI fell to 48.8 in March 2026, ending a 15‑month expansion and marking first contraction in 16 months.
New business and export sales declined, with firms citing post‑Olympics slowdown, Middle East war uncertainty, and heightened competition.
Input price inflation surged to a three‑year high, driven by wages, raw material, energy and fuel costs, prompting price hikes.
Composite PMI fell to 49.2, indicating Italy’s overall economy contracted for the first time since early 2025.