FX.co ★ Italy’s Services Sector Loses Some Momentum as HCOB PMI Eases in February

Italy’s services sector expanded at a slightly slower pace in February, with the HCOB Italy Services Purchasing Managers’ Index (PMI) easing to 52.3 from 52.9 in January 2026.

The latest reading, updated on 4 March 2026, still stands above the 50.0 threshold that separates expansion from contraction, indicating that activity in the Italian services industry continues to grow, albeit at a more modest rate. The six-tenths decline suggests a mild cooling in momentum compared with the start of the year.

While no longer at January’s recent high, the February figure points to ongoing resilience in Italy’s services economy, a key component of overall GDP, as businesses navigate shifting domestic and external demand conditions.