Italy: Business confidence rises in May
Business confidence came in at 113.6 in June, up from May’s 110.0, pointing to improving sentiment among businesses.
The uptick was due to increased optimism of firms in all sectors, with a particularly sharp upturn noted in the services sector.
ING’s Paolo Pizzoli said:
“[…] Services seem scarcely affected by recent developments. Confidence in services gained more than five points on the month, propelled by a strong gain in the transport services component. As confidence in tourism services confirmed recent gains, it seems that a reopening effect is still at work. Interestingly, the orders component also improved on the month, pointing to a continuation of the pattern.”