Italy: Business confidence hits fresh multi-year high in October
October 26, 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 109.1 points in October, a solid increase from September’s reading of 108.1 points (previously reported: 108.0 points) and marking a fresh multi-year high.
Three of the four sub-categories of the indicator improved compared to September: manufacturing, services and retail sales. The constructions sector was the only sub-category to record a deterioration. Manufacturing registered the best result in over ten years, supported by improved assessments of order books and better production expectations; retail sales confidence was buoyed by more positive assessments of current and future sales. Lastly, while the services sector improved slightly, confidence in the construction sector suffered from weaker assessments of order books and construction plans.