FX.co ★ Italy’s Factory Sector Returns to Growth as HCOB Manufacturing PMI Climbs Above 50 in February

Italy’s manufacturing sector has swung back into expansion territory, according to the latest HCOB Italy Manufacturing PMI data released on 2 March 2026. The index rose to 50.6 in February 2026, up from 48.1 in January 2026, moving above the critical 50-point threshold that separates contraction from growth.

The February reading at 50.6 marks a notable turnaround from January’s sub-50 level, suggesting improving conditions for Italian manufacturers after a period of weakness. While the data release does not detail the drivers behind the rebound, the shift into expansion suggests a brighter near-term outlook for industrial activity in one of the euro area’s key economies.

The update for February 2026 will be closely watched by investors and policymakers as a potential signal of stabilisation in Italy’s manufacturing base, following earlier signs of strain indicated by January’s 48.1 reading.