Italy: Private Sector Growth Eases to 5-Month Low.

The S&P Global Italy Composite PMI edged down to 50.8 in October 2026 from 51.0 in September, marking its lowest level since May while signaling a continued but modest expansion in private sector activity. The slight slowdown reflected a faster contraction in manufacturing output, which offset stronger growth in the services sector. New business continued to increase modestly, with services remaining the sole source of expansion. Employment also rose slightly, broadly in line with the series average. Meanwhile, cost pressures intensified to their strongest level in four years, with both manufacturing and services contributing to the increase. Output charge inflation also accelerated to its highest rate since the start of 2023.