Italy HCOB Manufacturing PMI

Info

History

Chart

Impact:

Medium

Latest Release:

Surprise:

EUR-1.2

EUR

Actual:

44.5

Forecast: 45.7

Previous/Revision:

46.9

Period: Dec 2024

Next Release:

Forecast: 44.8

Period: Jan 2025

What Does It Measure?

The Italy HCOB Manufacturing Purchasing Managers' Index (PMI) measures the performance and health of the manufacturing sector in Italy. It primarily focuses on assessing production levels, new orders, supplier delivery times, inventory levels, and employment conditions within manufacturing companies; a PMI above 50 signals expansion, while below 50 indicates contraction. This is a national economic indicator.

Frequency

The Italy HCOB Manufacturing PMI is released monthly and typically consists of a preliminary estimate followed by a final report, usually published at the beginning of the subsequent month.

Why Do Traders Care?

Traders value the Italy HCOB Manufacturing PMI because it provides timely insights into the country's manufacturing sector, influencing economic forecasts and investor sentiment. Higher or better-than-expected PMI readings are bullish for the euro and Italian stocks, signaling economic health, while lower readings may dampen market confidence, leading to bearish reactions.

What Is It Derived From?

This index is derived from a survey conducted among purchasing managers in the manufacturing industry, who respond to questions about conditions such as new orders, output, and employment. The PMI is calculated as a diffusion index, where 50 represents no change, above 50 indicates growth, and below 50 signals contraction, leveraging weighted sub-indices for comprehensive assessment.

Description

The PMI report is released in both preliminary and final versions, with preliminary data derived from earlier estimates that serve as an initial snapshot and are often more market-moving due to their timeliness. Final data provide a more accurate picture after further data collection and analysis; however, adjustments between preliminary and final readings can affect market sentiment. The Italy Manufacturing PMI compares month-over-month data, offering a short-term view that helps identify current economic trends and possible shifts in the manufacturing sector's direction.

Additional Notes

As a leading economic indicator, the Italy HCOB Manufacturing PMI is crucial for predicting economic activity since it tracks changes before they affect the rest of the economy. Its analysis often contrasts with other similar reports globally, like the Eurozone PMI, offering a broader understanding of regional and international trends.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the ‘Actual’ value differs enough from the forecast or if the ‘Previous’ value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the ‘Actual’ deviates from the forecast or there’s a notable revision to the ‘Previous’ value.

Medium Potential Impact
This event is unlikely to affect market pricing unless there’s an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
'Actual' deviated from 'Forecast' on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
'Actual' deviated from 'Forecast' on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency.

Green Number	Better than forecast for the currency (or previous revise better)
Red Number	Worse than forecast for the currency (or previous revise better)
Hawkish	Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish	Favors lower rates to boost growth, weakening the currency but lifting stocks.

Date	Actual	Forecast	Previous	Surprise
Dec 02, 2024	44.5	45.7	46.9	-1.2
Nov 04, 2024	46.9	48.6	48.3	-1.7
Oct 01, 2024	48.3	49	49.4	-0.7
Sep 02, 2024	49.4	48.5	47.4	0.9
Aug 01, 2024	47.4	46.1	45.7	1.3
Jul 01, 2024	45.7	44.4	45.6	1.3
Jun 03, 2024	45.6	48	47.3	-2.4
May 02, 2024	47.3	50	50.4	-2.7
Apr 02, 2024	50.4	48.8	48.7	1.6
Mar 01, 2024	48.7	49.1	48.5	-0.4
Feb 01, 2024	48.5	47.3	45.3	1.2
Jan 02, 2024	45.3	44.4	44.4	0.9
Dec 01, 2023	44.4	45.3	44.9	-0.9
Nov 02, 2023	44.9	46.2	46.8	-1.3
Oct 02, 2023	46.8	45.7	45.4	1.1
Sep 01, 2023	45.4	46	44.5	-0.6
Aug 01, 2023	44.5	44.2	43.8	0.3
Jul 03, 2023	43.8	45.3	45.9	-1.5
Jun 01, 2023	45.9	45.6	46.8	0.3
May 02, 2023	46.8	49	51.1	-2.2