Italy: Business confidence drops to lowest level in more than three years
September 27, 2012
In September, the composite business confidence indicator (IESE, Istat Economic Sentiment Indicator) elaborated by Istat - which covers the manufacturing, construction, service and retail sectors - dropped to 75.5 points from 79.0 points in August (previously reported: 78.5 points), marking the fifth drop in the last six months and driving sentiment to the lowest level in more than three years. The drop in the overall index was led by a strong deterioration in the services sector, the component with the strongest weight in the index. Sentiment in the remaining three categories, on the other hand, improved over the previous month.
Author: Armando Ciccarelli, Head of Data Solutions