Italy: Business confidence dips to 20-month low as uncertainty over economic policies persists
The National Institute of Statistics (Istat)’s composite business confidence indicator (Clima di Fiducia delle Imprese Italiane, IESE)—which covers the manufacturing, construction, services and retail sectors—edged down to 103.7 points in September from August’s revised 103.9 points (previously reported: 103.8 points).
September’s reading was the result of a deterioration in sentiment in the construction sector, which more than offset improved sentiment in the manufacturing and business services sectors. Sentiment in the trade sector, meanwhile, remained virtually unchanged. Confidence in the construction sector deteriorated on worsened expectations and assessments of both order books and production plans, while confidence in the manufacturing sector improved for the first time since February, supported by better assessments of order books, both domestic and from abroad.