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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
ItalyItaly S&P Global Manufacturing PMI climbed to 50.4 Points in September 2026
FMPMonthlyReleased October 2026
Italy S&P Global Manufacturing PMI climbed to 50.4 Points in September 2026, released October 2026, up 0.8 Points from August's 49.6 Points reading. The reading matched the 50 Points consensus.
Latest Release
50.400000
Actual
50.000000
Consensus
49.600000
Previous
Median Absolute Error
±0.67
across last 12 releases
Last Call
Oct 2026
Predicted: 49.28
Actual: 50.4
Error: -1.13
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/GBP | ▼ Inverse | −0.69 | FOREX | Moves against | → View |
| XAU/USD | ▲ Direct | +0.41 | COMMODITIES | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
S&P Global Manufacturing PMI (Italy) was reported at 50.40 Points in September 2026. This beat the market consensus of 50.00 Points by 0.40 Points. The reading rose from the previous value of 49.60 Points. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The trailing three releases averaged 50.43 Points, down from the prior three at 51.77 Points.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with EUR/GBP (Bearish EUR). A secondary relationship exists with XAU/USD, positively correlated (Bullish XAU). Over the last 12 releases, the Sigmacast model's median absolute error is 0.67 Points.
WHAT TO WATCH NEXT
The next release is scheduled for November 2, 2026. Same-country events in the next 14 days include S&P Global Services PMI (Nov 4) and Retail Sales YoY (Nov 5).
Auto-generated from current model state · Refreshes on each release · Last update October 2026.
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S&P Global Manufacturing PMI - IT
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About S&P Global Manufacturing PMI — Italy
DEFINITION
The S&P Global Manufacturing PMI is a widely recognized financial indicator that measures the performance of the manufacturing sector in major economies around the world. It provides valuable insights into the health and growth of the global manufacturing industry, serving as a key barometer for investors, businesses, and policymakers. The index is based on a monthly survey of purchasing managers, and its timely and accurate data is highly regarded for its ability to forecast economic trends and inform decision-making.
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 (Sep 2026): actual 50.4 Points, consensus 50 Points. Prior reading (Aug 2026): 49.6 Points. Before that (Jul 2026): 51.3 Points.
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. This indicator correlates most strongly with EUR/GBP (Bearish EUR, r=-0.69) — a useful reference for forex-focused traders.
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EXPECTED ZONE
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Economic Calendar - IT Events
| Thursday, October 29, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 09:00 | IT | Unemployment Rate | 6.3 | 6.2 | 6.2 | 6.25 | High |
| 11:00 | IT | Consumer Confidence | 90.3 | 91.2 | 90.9 | 91.18 | Medium |
| 11:00 | IT | Business Confidence | 91.9 | 91.9 | 92 | 92.15 | Medium |
| Friday, October 30, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 09:00 | IT | GDP Growth Rate YoY | 0.8 | 1 | 0.9 | 0.85 | High |
| 09:00 | IT | GDP Growth Rate QoQ | 0 | 0.2 | 0.1 | 0.05 | High |
| 10:00 | IT | Inflation Rate YoY | 5.4 | 4.2 | 4.6 | 4.80 | High |
| 10:00 | IT | Inflation Rate MoM | 0.9 | 0.7 | 0.3 | 0.43 | Medium |
| 10:00 | IT | Harmonised Inflation Rate MoM | 1.2 | 2.1 | 0.5 | 0.68 | Low |
| 10:00 | IT | Harmonised Inflation Rate YoY | 5.6 | 4.2 | 4.6 | 4.88 | Low |