Italy: Business confidence hits three-and-a-half-year high in February
February 26, 2015
The National Institute of Statistics (Istat) composite business confidence indicator (IESE, Istat Economic Sentiment Indicator), which covers the manufacturing, construction, service and retail sectors, increased from 91.6 points in January to 94.9 in February. This marked the highest level since June 2011.
February’s increase came as a result of an improvement in all of the sectors that comprise the index except for construction, which inched down compared to the previous month. Retail posted the highest increase, rising from 99.4 points in January to 105.3 points in February. Manufacturing output increased from 97.6 points in January to 99.1 points in February. Finally, services also improved notably, jumping from 94.9 points to 100.4 points and marking the highest reading since June 2011.
Author: Cecilia Simkievich, Economist