Italy: Business confidence moderates further in February
February 27, 2012
In February, the ISTAT manufacturing sentiment index dropped to 91.5 points. The figure was down from the 92.1 points recorded in January and also below market expectations, which saw sentiment rising to 92.3 points. The reading was in line with the deteriorating trend witnessed since April, which was only momentarily interrupted in November. With the February drop, business confidence has fallen to its lowest level since November 2009. According to ISTAT, the deterioration reflected worse results in all the prospective sub-components of the index, with the assessment on current orders, and in particular export orders, marking the largest decline.
Author: Armando Ciccarelli, Head of Data Solutions