Italy: Business confidence picks up, reaches highest level since July 2012
November 28, 2013
In November, 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 83.2 points, up from the revised 79.9 points recorded in October (previously reported: 79.3 points). The print marks the highest reading since July 2012.
The improvement was driven by stronger readings in the manufacturing, services and retail sectors, whereas construction fared worse than in the previous month.
Panelists expect fixed investment to contract 3.6% in 2013, which is up 0.1 percentage points from last month's forecast. For 2014, panelists see fixed investment growing 0.7%.
Author: Armando Ciccarelli, Head of Data Solutions