Italy: Business confidence rebounds in May
The National Institute of Statistics (Istat)’s composite business confidence indicator (Clima di Fiducia delle Imprese Italiane, IESE)—which covers the manufacturing, construction, market services and retail sectors—rose to 100.2 points in May from April’s revised 98.8 points (previously reported: 98.7 points), marking the best result in six months.
May’s reading came on the back of a broad-based improvement in all the sectors covered by the index. Confidence in the retail trade sector gained ground, benefiting from better assessments of current sales. Moreover, confidence in the market services sector edged up slightly, as expectations on future order books got rosier. Additionally, sentiment in the manufacturing sector rose, pushed up by improved assessments of order books and production expectations. Lastly, confidence in the construction sector rose on more favorable assessments of order books and construction plans.