Published by Global Banking & Finance Review®
Posted on March 4, 2026
2 min readLast updated: April 2, 2026
Add as preferred source on GoogleItaly’s services sector continued to expand in February, though growth eased to a PMI of 52.3 from 52.9 in January, marking 15 consecutive months of expansion.
ROME, March 4 (Reuters) - Italy's service sector expanded in February but at a slower pace than the previous month, a business survey showed on Wednesday, pointing to ongoing modest growth in the euro zone's third-largest economy.
The HCOB Italy Services PMI Business Activity Index stood at 52.3 last month from 52.9 in January, marking the 15th straight month above the 50.0 threshold that separates growth from contraction.
A Reuters survey of 12 analysts had pointed to a reading of 52.0.
HCOB's sister survey for Italy's smaller manufacturing sector, published on Monday, showed a return to expansion in February after two months of contraction.
The composite PMI, combining manufacturing and services, accelerated to 52.1 from 51.4, above the 50 mark for a 13th month running.
The ongoing expansion in services and the improvement in manufacturing "could give Italy's private sector a welcome boost overall and enable it to get off to a solid start in the first quarter of the new year," said Hamburg Commercial Bank economist Jonas Feldhusen.
The Italian economy grew by 0.5% in 2025, national statistics bureau ISTAT reported on Monday, matching the government's most recent, downwardly revised target.
Italy is forecasting growth of 0.7% this year, which would be a fourth consecutive year of sub-1% growth despite a steady inflow of billions of euros of EU-post-COVID 19 recovery funds.
In the services PMI survey the new business subindex decelerated marginally to 52.7 from a previous 52.9, but the indicator for new export business rose to 50.4 from 49.3, ending a run of three months in sub-50 territory.
The employment indicator, at 51.9, was the highest since July last year.
(Reporting by Antonella Cinelli, editing by Gavin Jones and Hugh Lawson)
The HCOB Italy Services PMI Business Activity Index was 52.3 in February, down from 52.9 in January.
Italy's service sector has recorded 15 consecutive months of expansion above the 50.0 threshold.
Yes, the HCOB survey showed Italy's manufacturing sector returned to expansion in February after two months of contraction.
Italy's economy grew by 0.5% in 2025, matching the government's downwardly revised target.
The new business subindex slightly decreased to 52.7, but the new export business indicator rose to 50.4, ending three months below 50.
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