The S&P Global Italy Construction PMI rose to 46.5 in September 2026, rebounding from a four-year low of 41.7 in August. The uptick was mainly driven by a softer downturn in new construction orders, while employment posted a modest increase. At the same time, supplier delivery times continued to lengthen, reflecting the impact of the war in the Middle East, with logistics and transport disruptions as well as stock shortages weighing on supply-chain performance.
On the price front, input-cost inflation quickened to a four-month high, fueled by higher spending on raw materials, fuel, transport and energy. Across subsectors, activity remained in contraction territory, with the sharpest decline registered in housing, while commercial construction saw only a marginal fall.
Looking ahead, Italian construction firms remained positive about output over the coming 12 months, though overall confidence stayed below its long-run average.