FX.co ★ Italy’s Private Sector Growth Accelerates as July HCOB Composite PMI Rises to 52.5

Italy’s private sector activity strengthened in July 2026, as the HCOB Italy Composite PMI climbed to 52.5, up from 50.8 in June. The latest reading, updated on 5 August 2026, signals a faster pace of expansion in business activity across the country.

The move further above the 50.0 threshold — which separates growth from contraction — suggests improving momentum in Italy’s combined manufacturing and services sectors. The July increase builds on June’s marginal expansion, indicating that the recovery in private sector output is gaining traction as the third quarter begins.

The back‑to‑back gains from June to July may be interpreted by market participants and policymakers as a sign of resilience in Italy’s economy, with attention now turning to whether this uptrend can be sustained in the coming months.