Italy: Business confidence gains further momentum in September
September 27, 2017
The National Institute of Statistics (Istat) composite business confidence indicator (IESE, Istat Economic Sentiment Indicator)—which covers the manufacturing, construction, services and retail sectors—rose to 108.0 points in September, a solid increase from August’s reading of 107.1 points (previously reported: 107.0 points) and marking a fresh multi-year high.
Three of the four sub-categories of the indicator improved compared to August: manufacturing, construction and retail sales. Manufacturing and construction were supported by improved assessments on order books production and retail sales confidence was buoyed by more positive expectations on future sales. Readings for the manufacturing and construction sub-categories were particularly impressive as the former reached its highest level in a decade while the latter marked the best reading in nine years.