Italy: Business confidence falls to year-and-a-half low in August
August 29, 2016
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 the revised 103.0 in July (previously reported: 103.3) to 99.4 in August, the worst result since February 2015.
All four categories of the indicator decreased compared to the previous month. In particular, both the manufacturing and services sectors recorded their lowest reading in 18 months, and the retail sector hit a 21-month low.