Italian construction PMI returns to contraction
The HCOB Italy Construction PMI fell to 48.2 in November 2025 from 50.7 in October, returning to contraction after just one month of growth.
Weakness was broad-based across all segments, with housing activity recording its first decline in three months and the steepest in over a year, while commercial and civil engineering also fell modestly, reflecting a general loss of momentum.
Additionally, new orders fell for the first time in three months, leading firms to slow hiring and curb purchasing. However, employment rose for the fifteenth consecutive month but only marginally.
Vendor delivery times lengthened for the 14th straight month due to stock shortages and adverse weather, and input costs ticked higher amid rising prices for raw materials and energy, though overall cost pressures remained below typical annual levels.
Business sentiment slipped to one of the lowest readings of 2025, as concerns over fragile demand and fading government incentives tempered recovery expectations.
UCapital Asset Management LLP or group companies may have commercial relationships with the companies mentioned. This content is not financial advice.
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