Italy EUR

Italy S&P Global Services PMI

Impact:
Medium
Source: S&P Global

Latest Release:

Date:
Big Surprise:
2.5
| EUR
Actual:
55.7
Forecast: 53.2
Previous/Revision:
51.6
Period: Mar
What Does It Measure?
The Italy S&P Global Services PMI measures the performance of the country’s services sector, providing insights into business conditions such as output, new orders, employment, and prices charged. It focuses on the health of the services industry, which is a significant component of the Italian economy, and evaluates key indicators including the diffusion index, where values above 50 indicate expansion and below 50 signify contraction.
Frequency
This index is released monthly, with the data typically published on the first business day of the month following the reporting month in the form of a preliminary estimate that may be revised later.
Why Do Traders Care?
Traders pay close attention to the Services PMI because it serves as a vital indicator for economic health, impacting financial markets through its influence on currency valuations, equity prices, and overall investor sentiment. Higher-than-expected readings are generally bullish for the Euro, while disappointing figures may suggest a bearish outlook, affecting investments in European stocks and bonds.
What Is It Derived From?
The Italy S&P Global Services PMI is derived from a survey of purchasing managers within the services sector, utilizing a sample that reflects business size and geographical distribution. The methodology involves collecting data on new business, employment, and other indicators, and calculating a composite index based on the diffusion index approach, where responses above 50% indicate growth.
Description
Preliminary data for the Services PMI indicates initial trends in the services sector, while final reports offer a more accurate reflection of conditions after further analysis. Month-over-month comparisons are not typically utilized in this report, with year-over-year assessments preferred to provide a clearer picture of structural changes over time.
Additional Notes
The Services PMI is considered a leading economic indicator, reflecting business sentiment and likely future economic activity, and it often correlates with performance metrics in other sectors. Comparisons to indices such as the Manufacturing PMI can provide broader insights into the overall economic landscape in Italy and highlight shifts between sectors.
Bullish or Bearish for Currency and Stocks
Higher than expected: Bullish for Euro, Bullish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number Better than forecast for the currency (or previous revise better)
Red Number Worse than forecast for the currency (or previous revise better)
Hawkish Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish Favors lower rates to boost growth, weakening the currency but lifting stocks.
Date Time Actual Forecast Previous Surprise
Apr 05, 2023
55.7
 53.2
51.6
2.5
Mar 03, 2023
51.6
 53.1
51.2
 -1.5
Feb 03, 2023
51.2
 51
49.9
 0.2
Jan 04, 2023
49.9
 49.5
49.5
 0.4
Dec 05, 2022
49.5
 48.3
46.4
 1.2
Nov 04, 2022
46.4
 48.5
48.8
-2.1
Oct 05, 2022
48.8
 49.1
50.5
 -0.3
Sep 05, 2022
50.5
 48.3
48.4
2.2
Aug 03, 2022
48.4
 50.1
51.6
-1.7
Jul 05, 2022
51.6
 51.5
53.7
 0.1
Jun 03, 2022
53.7
 54.5
55.7
 -0.8
May 04, 2022
55.7
 54.5
52.1
1.2
Apr 05, 2022
52.1
 51.5
52.8
 0.6