Italy Business Confidence July 2017


Italy: Business confidence flags slightly in July on more subdued expectations in the service sector

July 27, 2017

The National Institute of Statistics (Istat) composite business confidence indicator (IESE, Istat Economic Sentiment Indicator), which covers the manufacturing, construction, service and retail sectors, edged down from June’s revised 106.3 (previously reported: 106.2) to 105.5 in July, due to lower expectations in the service sector.

The services sub-category reported its worst result since December 2016, as both expectations regarding new orders and assessments of business developments worsened significantly. On the upside, three of the four sub-categories of the indicator improved compared to June: manufacturing, retail sales and construction, with the latter registering the best result in over nine years, pushed up by expectations of higher employment.

Panelists expect fixed investment to increase 1.4% in 2017, which is unchanged from last month’s forecast. For 2018, panelists see fixed investment growing 1.9%.

Author: Massimo Bassetti, Economist

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Italy Business Confidence Chart

Italy Business Confidence July 2017

Note: Value of monthly business confidence index.
Source: National Statistical Institute (Istat)

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