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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
ItalyItaly S&P Global Services PMI fell to 49.4 in May 2026
FMPMonthlyReleased June 2026
Italy S&P Global Services PMI fell to 49.4 in May 2026, released June 2026, down 0.4 from April's 49.8 reading. The reading matched the 49.1 consensus.
Latest Release
49.400000
Actual
49.100000
Consensus
49.800000
Previous
Median Absolute Error
±1.08
across last 12 releases
Last Call
Jun 2026
Predicted: 49.1
Actual: 49.4
Error: -0.3
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 49.40 in May 2026. This beat the market consensus of 49.10 by 0.30. The reading fell from the previous value of 49.80. 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 51.63, up from the prior three at 50.90.
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 1.08.
WHAT TO WATCH NEXT
The next release is scheduled for July 3, 2026. Same-country events in the next 14 days include Industrial Production MoM (Jun 10) and Balance of Trade (Jun 15).
Auto-generated from current model state · Refreshes on each release · Last update June 2026.
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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 (May 2026): actual 49.4, consensus 49.1. Prior reading (Apr 2026): 49.8. Before that (Mar 2026): 48.8.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook diverging from that direction. The 1-month and 3-month horizons disagree, suggesting a mixed signal. Trend-driven dynamics are the primary headwind in the current projection.