Italy Business Confidence August 2016

Italy

Italy: Business confidence falls to year-and-a-half low in August

The National Institute of Statistics’ (Istat) composite business confidence indicator (IESE, Istat Economic Sentiment Indicator), which covers the manufacturing, construction, service and retail sectors, dropped from the revised 103.0 in July (previously reported: 103.3) to 99.4 in August, the worst result since February 2015.

All four categories of the indicator decreased compared to the previous month. In particular, both the manufacturing and services sectors recorded their lowest reading in 18 months, and the retail sector hit a 21-month low.

Panelists expect fixed investment to increase 1.6% in 2016, which is down 0.6 percentage points from last month’s forecast. For 2017, panelists see fixed investment growing 1.4%.


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Italy Business Confidence Chart


Italy Business Confidence August 2016 2

Note: Value of monthly business confidence index.
Source: National Statistical Institute (Istat)


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