FX.co ★ Italy Private Sector Growth Hits 8-Month High

The S&P Global Italy Composite PMI rose to 52.5 in July from 50.8 in June, signaling the strongest expansion in private-sector output since November 2025. This improvement was largely driven by stronger momentum in the services sector, which helped counterbalance ongoing weakness in manufacturing. At the composite level, new business increased for the second consecutive month, with growth accelerating to its fastest pace so far this year despite a further decline in manufacturing order books. Private-sector employment also continued to expand in July, extending the growth trend seen throughout 2026 and reaching its highest rate of job creation since June 2025. At the same time, both input cost and output price indicators showed the mildest inflationary pressures since February.