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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
ItalyItaly S&P Global Construction PMI climbed to 46.5 in September 2026
FMPMonthlyReleased October 2026
Italy S&P Global Construction PMI climbed to 46.5 in September 2026, released October 2026, up 4.8 from August's 41.7 reading. The print exceeded the 42 consensus by 4.5.
Latest Release
46.500000
Actual
42.000000
Consensus
41.700000
Previous
Median Absolute Error
±5.46
across last 6 releases
Last Call
Oct 2026
Predicted: 40.78
Actual: 46.5
Error: -5.73
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| EUR/USD | ▲ Direct | +0.40 | FOREX | Moves with | → View |
| DAX | ▲ Direct | +0.40 | INDEX | Moves with | → View |
| EUR/GBP | ▲ Direct | +0.35 | FOREX | Moves with | → View |
| EUR/JPY | ▲ Direct | +0.35 | FOREX | Moves with | → View |
| XAU/USD | ▼ Inverse | −0.30 | COMMODITIES | Moves against | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
S&P Global Construction PMI (Italy) was reported at 46.50 in September 2026. This beat the market consensus of 42.00 by 4.50. The reading rose from the previous value of 41.70.
WHY IT MATTERS
The trailing three releases averaged 45.77, down from the prior three at 50.00.
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 6 releases, the Sigmacast model's median absolute error is 5.46.
WHAT TO WATCH NEXT
The next release is scheduled for November 5, 2026. Same-country events in the next 14 days include Balance of Trade (Oct 16) and Unemployment Rate (Oct 29).
Auto-generated from current model state · Refreshes on each release · Last update October 2026.
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S&P Global Construction PMI - IT
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About S&P Global Construction PMI — Italy
DEFINITION
The S&P Global Construction PMI is a widely recognized financial indicator that measures the performance of the global construction industry. It provides valuable insights into the current and future trends of the sector, including changes in output, new orders, employment, and business confidence. This indicator is used by investors, analysts, and policymakers to assess the health of the construction industry and make informed decisions. With its comprehensive coverage and timely updates, the S&P Global Construction PMI is an essential tool for understanding the state of the global economy.
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 2026): actual 46.5, consensus 42. Prior reading (Aug 2026): 41.7. Before that (Jul 2026): 49.1.
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 bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection.
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EXPECTED ZONE
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Economic Calendar - IT Events
| Friday, October 16, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 09:00 | IT | Inflation Rate YoY | 3.3 | 3.1 | 3.10 | Low | |
| 09:00 | IT | Inflation Rate MoM | 0.5 | 0.1 | 0.10 | Low | |
| 09:00 | IT | Harmonised Inflation Rate YoY | 3.2 | 3.4 | 3.40 | Low | |
| 09:00 | IT | Harmonised Inflation Rate MoM | 0.1 | 1.5 | 1.50 | Low | |
| 10:00 | IT | Balance of Trade | 8.24 | 7.5 | 7.50 | Medium | |