Italy: Business confidence dips slightly in May
May 26, 2017
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 April’s revised 106.8 (previously reported: 107.4) to 106.2 in May.
Two out of four categories of the indicator deteriorated compared to April: manufacturing and services, with the former dragged down mainly by expectations of lower order books. On the upside, the retail and construction sub-categories improved, with the latter benefiting from higher hiring expectations.