An October of growth for the tertiary sector
In October 2024, tertiary sector activity in Italy showed signs of strong expansion, with the HCOB PMI Index rising to 52.4, compared to 50.5 in September. This increase represents the biggest acceleration since June and indicates a growth rate higher than the long-term average
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Factors that have contributed to growth
The companies monitored attributed this increase in activity to better order flow and the acquisition of new customers. The combination of these factors has created a favorable environment for growth, suggesting that businesses are finally seeing the fruits of more effective marketing and sales strategies. In addition, consumer confidence appears to be increasing, contributing to a more positive economic climate
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Future prospects for the tertiary sector
The outlook for the Italian tertiary sector remains optimistic. As demand increases and businesses continue to expand, companies may be able to maintain this momentum in the months ahead. However, it’s crucial that businesses continue to monitor market trends and adapt quickly to changes to remain competitive. The upward revision of forecasts for 2024 by important financial institutions, such as the bank led by Orcel, is a clear sign of confidence in the sector’s growth potential
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