Italy: Business confidence hits highest level in over a year in August
August 29, 2013
In August, the National Institute for Statistics (Istat) composite business confidence indicator (IESE, Istat Economic Sentiment Indicator) - which covers the manufacturing, construction, service and retail sectors - rose to 82.2 points, up from the 79.8 points recorded in July. The print marks the highest reading in 13 months.
The improvement was broad-based with almost all categories increasing over the previous month. The manufacturing, services and retail sectors reached their highest levels in over a year. Construction was the only category that experienced a slight decline in confidence.
Panellists expect fixed investment to contract 3.6% in 2013, which is up 0.1 percentage points from last month's forecast. For 2014, panellists see fixed investment growing 0.7%.