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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
ItalyItaly Markit/ADACI Services PMI climbed to 48.8 in September 2020
FMPMonthlyReleased October 2020
Italy Markit/ADACI Services PMI climbed to 48.8 in September 2020, released October 2020, up 1.7 from August's 47.1 reading. The reading matched the 46.6 consensus.
Latest Release
48.800000
Actual
46.600000
Consensus
47.100000
Previous
Median Absolute Error
±1.51
across last 12 releases
Last Call
Oct 2020
Predicted: 46.2
Actual: 48.8
Error: -2.6
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
Markit/ADACI Services PMI (Italy) was reported at 48.80 in September 2020. This beat the market consensus of 46.60 by 2.20. The reading rose from the previous value of 47.10.
WHY IT MATTERS
The trailing three releases averaged 49.17, up from the prior three at 28.70.
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 1.51.
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 October 2020.
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Markit/ADACI Services PMI - IT
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About Markit/ADACI Services PMI — Italy
DEFINITION
Markit/ADACI Services PMI is a widely recognized financial indicator that measures the performance of the services sector in a particular country. It is based on a monthly survey of purchasing managers in the services industry, providing valuable insights into the overall economic health and growth potential of the sector. This indicator is closely monitored by investors, policymakers, and businesses as it can help identify trends and potential risks in the services sector, which plays a crucial role in the overall economy. With its timely and reliable data, Markit/ADACI Services PMI is a key tool for making informed decisions in the financial world.
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. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Sep 2020): actual 48.8, consensus 46.6. Prior reading (Sep 2020): 48.8. Before that (Aug 2020): 47.1.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook diverging from that direction. The 1-month and 3-month horizons disagree, suggesting a mixed signal. Trend-driven dynamics are the primary headwind in the current projection.