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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
ItalyItaly IHS Markit Manufacturing PMI held to 58.3 in February 2022
FMPMonthlyReleased March 2022
Italy IHS Markit Manufacturing PMI held to 58.3 in February 2022, released March 2022. The reading matched the 58 consensus. Year-over-year, the indicator is up 1.4. Over the past 3 months, IHS Markit Manufacturing PMI averaged 60.15, vs 60.88 in the prior 3-month window. IHS Markit Manufacturing PMI is now the lowest in 11 months.
Latest Release
58.3
Actual
58
Consensus
58.3
Previous
Median Absolute Error
±0.39
across last 12 releases
Last Call
Mar 2022
Predicted: 57.92
Actual: 58.3
Error: -0.38
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| EUR/USD | ▲ Direct | +0.40 | FOREX | Bullish EUR | → View |
| DAX | ▲ Direct | +0.40 | INDEX | Bullish EU | → View |
| EUR/GBP | ▲ Direct | +0.35 | FOREX | Bullish EUR | → View |
| EUR/JPY | ▲ Direct | +0.35 | FOREX | Bullish EUR | → View |
| XAU/USD | ▼ Inverse | −0.30 | COMMODITIES | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
IHS Markit Manufacturing PMI (Italy) was reported at 58.30 in March 2022. This beat the market consensus of 58.00 by 0.30. The reading was unchanged from the previous release. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The trailing three releases averaged 59.53, down from the prior three at 61.20.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with EUR/USD (Bullish EUR). A secondary relationship exists with DAX, positively correlated (Bullish EU). Over the last 12 releases, the Sigmacast model's median absolute error is 0.39.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Business Confidence (May 28) and Consumer Confidence (May 28).
Auto-generated from current model state · Refreshes on each release · Last update March 2022.
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IHS Markit Manufacturing PMI - IT
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About IHS Markit Manufacturing PMI — Italy
DEFINITION
The IHS Markit Manufacturing PMI is a widely recognized financial indicator that measures the performance of the manufacturing sector in a particular country or region. It is based on a monthly survey of purchasing managers, providing valuable insights into the overall economic health and future trends of the manufacturing industry. With its timely and accurate data, the IHS Markit Manufacturing PMI is a crucial tool for investors, businesses, and policymakers in making informed decisions and assessing the strength of the manufacturing sector.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Feb 2022): actual 58.3, consensus 58. Prior reading (Jan 2022): 58.3. Before that (Dec 2021): 62.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection.