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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
ItalyItaly S&P Global Services PMI climbed to 49.8 in December 2023
FMPMonthlyReleased January 2024
Italy S&P Global Services PMI climbed to 49.8 in December 2023, released January 2024, up 0.3 from November's 49.5 reading. The reading matched the 49.8 consensus.
Latest Release
49.800000
Actual
49.800000
Consensus
49.500000
Previous
Median Absolute Error
±1.39
across last 12 releases
Last Call
Jan 2024
Predicted: 49.8
Actual: 49.8
Error: +0
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
S&P Global Services PMI (Italy) was reported at 49.80 in December 2023. This matched the market consensus of 49.80 exactly. The reading rose from the previous value of 49.50. This is classified as a high-impact indicator released on a monthly basis.
WHY IT MATTERS
The trailing three releases averaged 52.37, up from the prior three at 50.20.
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 1.39.
WHAT TO WATCH NEXT
The next release is scheduled for June 3, 2026. 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 January 2024.
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S&P Global Services PMI - IT
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About S&P Global Services PMI — Italy
DEFINITION
The S&P Global Services PMI is a widely recognized financial indicator that measures the performance of the global services sector. It provides valuable insights into the health and growth of the services industry, which accounts for a significant portion of the global economy. This indicator is based on a monthly survey of purchasing managers in key service sectors, providing timely and reliable data on business activity, new orders, employment, and prices. The S&P Global Services PMI is a crucial tool for investors, businesses, and policymakers in making informed decisions and assessing the overall economic outlook.
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 (Apr 2026): actual 49.8, consensus 47.6. Prior reading (Mar 2026): 48.8. Before that (Dec 2023): 49.8.
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.