Italy: Business confidence rises to near two-year high in May
May 27, 2021
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—increased to 106.7 in May, from 97.9 in April, logging the best result in nearly two years. May’s print reflected a broad-based improvement. Sentiment in the retail trade and market services sectors improved again, while confidence in the manufacturing and constructions sectors strengthened further.FocusEconomics Consensus Forecast panelists see fixed investment increasing 9.3% in 2021, which is up 0.7 percentage points from last month’s estimate. For 2022, the panel expects fixed investment to expand 6.0%.