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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
ItalyItaly S&P Global Construction PMI fell to 45.4 in June 2026
FMPMonthlyReleased July 2026
Italy S&P Global Construction PMI fell to 45.4 in June 2026, released July 2026, down 4 from May's 49.4 reading. The reading missed the 49 consensus by 3.6.
Latest Release
45.400000
Actual
49.000000
Consensus
49.400000
Previous
Median Absolute Error
±5.2
across last 3 releases
Last Call
Jul 2026
Predicted: 51.6
Actual: 45.4
Error: +6.2
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 45.40 in June 2026. This missed the market consensus of 49.00 by 3.60. The reading fell from the previous value of 49.40.
WHY IT MATTERS
The indicator has been trending downward over the last three releases. The trailing three releases averaged 50.00, up from the prior three at 48.17.
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).
WHAT TO WATCH NEXT
The next release is scheduled for August 6, 2026. Same-country events in the next 14 days include S&P Global Manufacturing PMI (Aug 3) and Retail Sales MoM (Aug 4).
Auto-generated from current model state · Refreshes on each release · Last update July 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 (Jun 2026): actual 45.4, consensus 49. Prior reading (May 2026): 49.4. Before that (Apr 2026): 44.8.
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.
Σ
EXPECTED ZONE
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Economic Calendar - IT Events
| Thursday, July 30, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 08:00 | IT | Gross Domestic Product YoY | 1 | 0.8 | 0.7 | 0.85 | Low |
| 08:00 | IT | GDP Growth Rate QoQ | 0.2 | 0.3 | 0.1 | 0.15 | High |
| 08:00 | IT | GDP Growth Rate YoY | 1 | 0.8 | 0.7 | 0.85 | High |
| 08:00 | IT | Gross Domestic Product QoQ | 0.2 | 0.3 | 0.1 | 0.15 | Low |
| 09:00 | IT | Unemployment Rate | 5.7 | 5.3 | 5.1 | 5.40 | Medium |
| 10:00 | IT | Producer Price Index YoY | 5.8 | 7.3 | 5.4 | 5.60 | Low |
| 10:00 | IT | Producer Price Index MoM | 0 | -0.2 | -0.4 | -0.20 | Low |
| Friday, July 31, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 08:00 | IT | Business Confidence | 89.6 | 88.6 | 88.9 | 89.25 | Medium |
| 08:00 | IT | Consumer Confidence | 94.2 | 92.4 | 92.5 | 93.35 | Medium |