Italy’s manufacturing sector has swung back into expansion territory, according to the latest HCOB Italy Manufacturing PMI data released on 2 March 2026. The index rose to 50.6 in February 2026, up from 48.1 in January 2026, moving above the critical 50-point threshold that separates contraction from growth.
The February reading at 50.6 marks a notable turnaround from January’s sub-50 level, suggesting improving conditions for Italian manufacturers after a period of weakness. While the data release does not detail the drivers behind the rebound, the shift into expansion suggests a brighter near-term outlook for industrial activity in one of the euro area’s key economies.
The update for February 2026 will be closely watched by investors and policymakers as a potential signal of stabilisation in Italy’s manufacturing base, following earlier signs of strain indicated by January’s 48.1 reading.