Because people are still mixing and passing it on - just fewer people and more slowly. So the number of cases will go down slowly.
For example (made up figures here) you had a disease that took 1 day to pass on, and initially every person was passing it on to 3 people the new case figures would go 1, 3, 9, 27, etc (and the total number of cases would be 1,4,13,40,67... etc).If you then changed how much people were mixing, so each person could only pass it on to one person the number would then stay at 27 cases a day until you ran out of people. If you change it so that each person infects less than one person (say 0.5 people) the number of cases will still go up, but the number of new cases would gradually decrease (so, for example, 27, 14, 7, 4, 2, 1).
Italy seem to be on the decreasing phase, but are early in it - so they have gone from every person infecting 2 or 3 others to infecting less than one person - so the numbers are going down. But there is still some transmission, so they have not come to an absolute halt.
If that helps at all, and doesn't just make you more confused!