Italy: Business confidence grows for the first time in four months in June
June 27, 2018
The National Institute of Statistics (Istat)’s composite business confidence indicator (Clima di Fiducia delle Imprese Italiane, IESE)—which covers the manufacturing, construction, services and retail sectors—rose to 105.4 points in June, above May’s revised 104.6 points (previously reported: 104.7).
June’s strengthening came on the back of an improvement in sentiment in the retail trade and market services sectors. Confidence in the retail trade sector improved on better expectations on future sales and improved assessments of current sales. In the market services sector both assessments and expectations on order books improved, too. On the other hand, sentiment in the manufacturing sector deteriorated on poorer assessments on order books and production expectations. Moreover, confidence in the construction sector weakened somewhat as less favorable assessments of order books and production plans more than offset improved employment expectations.
Italy Fixed Investment Forecast
FocusEconomics panelists expect fixed investment to increase 2.5% in 2018, which is unchanged from last month’s forecast. For 2019, panelists see fixed investment growing 2.2%.