Italy: Business confidence remains high in December
December 22, 2017
The National Institute of Statistics (Istat)’s composite business confidence indicator (Clima di Fiducia delle Imprese Italiane, IESE)—which covers the manufacturing, construction, services and retail sectors—inched up to 108.9 points in December, a marginal increase from November’s 108.8 points.
The strengthening came mainly on the back of an improvement in sentiment in the retail trade sector, in which expectations on future sales rose. Sentiment in the market services sector also strengthened, as both expectations on order books and assessments on business improved. On the other hand, confidence in the manufacturing sector dipped on lower production expectations. Moreover, the construction sector recorded a significant weakening due to a deterioration in assessments of order books and construction plans.