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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
ItalyItaly IHS Markit Services PMI climbed to 52.8 in February 2022
FMPMonthlyReleased March 2022
Italy IHS Markit Services PMI climbed to 52.8 in February 2022, released March 2022, up 4.3 from January's 48.5 reading. The reading matched the 52.5 consensus. Year-over-year, the indicator is up 4. Over the past 3 months, IHS Markit Services PMI averaged 50.75, vs 54.34 in the prior 3-month window. The reading is in the 59th percentile of the trailing 24-month range.
Latest Release
52.8
Actual
52.5
Consensus
48.5
Previous
Median Absolute Error
±1.2
across last 12 releases
Last Call
Mar 2022
Predicted: 52.27
Actual: 52.8
Error: -0.53
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 Services PMI (Italy) was reported at 52.80 in March 2022. This beat the market consensus of 52.50 by 0.30. The reading rose from the previous value of 48.50. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The trailing three releases averaged 51.43, down from the prior three at 54.60.
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 1.20.
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 Services PMI - IT
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About IHS Markit Services PMI — Italy
DEFINITION
The IHS Markit Services PMI is a widely recognized financial indicator that measures the performance of the services sector in a particular economy. It provides valuable insights into the health and growth of the services industry, which is a key driver of economic activity. This indicator is based on monthly surveys of purchasing managers in various service-based businesses, and is used by investors, policymakers, and businesses to make informed decisions and forecasts. With its timely and accurate data, the IHS Markit Services PMI is an essential tool for understanding the current and future state of the services 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 52.8, consensus 52.5. Prior reading (Jan 2022): 48.5. Before that (Dec 2021): 53.
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.