Italy: Business confidence drops to lowest level in more than two years
April 26, 2012
In April, the ISTAT manufacturing sentiment index dropped to 89.5 points, from the revised 91.1 points recorded in March (previously reported: 92.1 points). The figure defied market expectations, which saw sentiment picking up to 92.1 points. With the April drop, business confidence fell to its lowest level since November 2009. According to ISTAT, the deterioration decline reflected a strong deterioration in expectations on the general economy, as well as a more pessimistic outlook on expected orders and production.
Author: Armando Ciccarelli, Head of Data Solutions