Italy: Business confidence deteriorates in March
Business confidence fell to 105.4 in March from February’s 107.9.
March’s fall was driven by a weakening in sentiment in the market services sector. In addition, confidence in the retail sales sector worsened.
Commenting on the print, Paolo Pizzoli, senior economist for Italy and Greece at ING, noted:
“On the business front, the confidence decline was more contained, and the construction sector even managed to post a small gain. Unsurprisingly, retailers recorded the sharpest fall in confidence among business sectors together with the retail sector, driven by a steep fall in current and expected sales.”