Italy EUR

Italy IHS Markit Composite PMI

Impact:
Low
Source: Markit Economics

Latest Release:

Date:
Surprise:
2.4
Actual:
53.6
Forecast: 51.2
Previous/Revision:
50.1
Period: Feb
What Does It Measure?
The IHS Markit Composite PMI (Purchasing Managers' Index) for Italy measures the overall economic health of the country's private sector, including both manufacturing and services. It primarily focuses on production, new orders, employment, and supplier delivery times, with a composite index value above 50 indicating expansion and below 50 indicating contraction.
Frequency
The Composite PMI is released on a monthly basis and is typically published on the first business day of the following month as a preliminary estimate.
Why Do Traders Care?
Traders pay close attention to the Composite PMI as it provides insight into economic growth prospects and can influence decisions related to financial markets, particularly impacting the Euro (EUR), Italian equities, and related bonds. A higher-than-expected result is often bullish for the currency and equity markets, while a lower reading may lead to bearish sentiment.
What Is It Derived From?
The Composite PMI is derived from a survey of purchasing managers in both manufacturing and services sectors, capturing their input on various economic aspects. The index is calculated based on the responses regarding changes in business activity, with specific weighting applied to ensure the result accurately reflects overall economic performance.
Description
The IHS Markit Composite PMI serves as a coincident indicator of economic activity, reflecting current conditions in the private sector. It is primarily reported in a diffusion index format, with the results providing a valuable lens through which to assess economic trends and conditions against historical performance.
Additional Notes
As a coincident economic measure, the Composite PMI is closely watched in relation to other indicators such as GDP growth and the industrial production index. It is often compared to similar reports from other countries, serving as a useful benchmark for evaluating Italy's economic health in a broader European context.
Bullish or Bearish for Currency and Stocks
Higher than expected: Bullish for EUR, Bullish for Italian 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
Mar 03, 2022
53.6
 51.2
50.1
 2.4
Feb 03, 2022
50.1
 55.1
54.7
 -5
Jan 05, 2022
54.7
 56.2
57.6
 -1.5
Dec 03, 2021
57.6
 54.9
54.2
2.7
Nov 04, 2021
54.2
 55.1
56.6
 -0.9
Oct 05, 2021
56.6
 58.6
59.1
 -2
Sep 03, 2021
59.1
 58
58.6
 1.1
Aug 04, 2021
58.6
 59.1
58.3
 -0.5
Jul 05, 2021
58.3
 57.5
55.7
 0.8
Jun 03, 2021
55.7
 55.1
51.2
 0.6
May 05, 2021
51.2
 53.4
51.9
 -2.2
Apr 07, 2021
51.9
 52.5
51.4
 -0.6
Mar 03, 2021
51.4
 49.1
47.2
 2.3
Feb 03, 2021
47.2
 44
43
 3.2
Jan 06, 2021
43
 48.6
42.7
 -5.6
Dec 03, 2020
42.7
 42
49.2
 0.7
Nov 04, 2020
49.2
 48.8
50.4
 0.4