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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
ItalyItaly S&P Global Manufacturing PMI fell to 49.6 Points in August 2026
FMPMonthlyReleased September 2026
Italy S&P Global Manufacturing PMI fell to 49.6 Points in August 2026, released September 2026, down 1.7 Points from July's 51.3 Points reading. The reading matched the 51.5 Points consensus.
Latest Release
49.600000
Actual
51.500000
Consensus
51.300000
Previous
Median Absolute Error
±0.62
across last 12 releases
Last Call
Sep 2026
Predicted: 51
Actual: 49.6
Error: +1.4
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 Manufacturing PMI (Italy) was reported at 49.60 Points in August 2026. This missed the market consensus of 51.50 Points by 1.90 Points. The reading fell from the previous value of 51.30 Points. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The indicator has been trending downward over the last three releases. The trailing three releases averaged 51.27 Points, down from the prior three at 51.47 Points.
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 0.62 Points.
WHAT TO WATCH NEXT
The next release is scheduled for October 1, 2026. Same-country events in the next 14 days include Balance of Trade (Sep 15) and Balance of Trade (Sep 15).
Auto-generated from current model state · Refreshes on each release · Last update September 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 (Aug 2026): actual 49.6 Points, consensus 51.5 Points. Prior reading (Jul 2026): 51.3 Points. Before that (May 2026): 52.9 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.
Σ
EXPECTED ZONE
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Economic Calendar - IT Events
| Tuesday, September 15, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 08:00 | IT | Balance of Trade | 4.232 | 4.77 | 4.32 | Medium | |
| Wednesday, September 16, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 08:00 | IT | Inflation Rate YoY | 3.3 | 2.9 | 3.3 | 3.30 | Low |
| 08:00 | IT | Harmonised Inflation Rate MoM | 0.1 | -1 | 0.1 | 0.07 | Low |
| 08:00 | IT | Harmonised Inflation Rate YoY | 3.2 | 2.9 | 3.2 | 3.18 | Low |
| 08:00 | IT | Inflation Rate MoM | 0.5 | 0.3 | 0.5 | 0.50 | Low |