Italy: Business confidence inches down in April
April 29, 2014
In April, the National Institute for Statistics (Istat) composite business confidence indicator (IESE, Istat Economic Sentiment Indicator), which covers the manufacturing, construction, service and retail sectors, inched down from 89.5 points in March to 88.8 points.
A weaker reading in construction, which reached the lowest level since July 2013, drove the slowdown. Services also recorded a decrease compared to the previous month. Conversely, retail and manufacturing improved over March and marked the highest levels since July and June 2011, respectively.
Panelists expect fixed investment to contract 0.8% in 2014, which is unchanged from last month's forecast. For 2015, panelists see fixed investment growing 1.9%.
Author: Dirina Mançellari, Senior Economist