Italy: Business confidence drops more than expected in May
May 26, 2011
In May, the manufacturing sentiment index published by ISTAT dropped to 101.3 points. The figure was down from the revised 102.6 points (previously reported: 103.0 points) recorded in April and exceeded market analyst expectations, which saw sentiment inching down to 102.5 points. The May reading represented a second consecutive drop in the index and saw sentiment declining to the lowest level in seven months. According to ISTAT, the decline was driven by a deteriorating outlook regarding orders and production expectations.
Author: Armando Ciccarelli, Head of Data Solutions