FX.co ★ Italy Construction PMI Gains Marginally in May

Italy's construction sector showed slight signs of recovery in May, as the HCOB Italy Construction Purchasing Managers' Index (PMI) climbed to 49.0, up from 48.5 in April 2024. Despite the increase, the index remains below the 50.0 mark, indicating ongoing contraction in the industry for the second consecutive month.

Data released on June 6, 2024, highlights this modest improvement over the month of April, where the PMI stagnated at 48.5. The monthly uptick, though minor, suggests that the sector may be gradually moving towards stabilization after previous declines.

The current PMI figure reflects a period-over-period comparison, emphasizing the month's performance relative to the prior one. Market analysts remain cautiously optimistic, noting that while the construction sector is still in a state of contraction, the steady rise may pave the way for potential growth in the upcoming months.