Italy's construction PMI shows slowest contraction in seven months

Italy's HCOB Construction PMI increased to 48.2 in October 2024 from 47.8 in September, signaling the seventh month of contraction, though at a milder rate than previous months.

Italy's construction PMI shows slowest contraction in seven months

New orders continued to fall amid weak demand and unfavorable weather, but the pace of decline slowed. Civil engineering saw the steepest contraction of the three monitored sectors, while activity in residential and commercial buildings dipped only slightly. On the positive side, employment in the sector rose for the second month in a row, reaching its highest growth since March. However, purchasing activity remained subdued, reflecting the low level of new business.

Italy construction PMI: eased inflation, optimism despite supply delays

Input price inflation eased to its lowest in nearly four and a half years, offering some cost relief to firms despite ongoing supply chain delays. Looking ahead, business sentiment stayed buoyant, with firms hopeful for incoming projects and sustained activity, though optimism remained slightly below historical levels.