Italy: Business confidence shows strong momentum in August
August 28, 2017
The National Institute of Statistics (Istat) composite business confidence indicator (IESE, Istat Economic Sentiment Indicator)-which covers the manufacturing, construction, services and retail sectors-rose to 107.0 points in August, a solid increase from July’s reading of 105.6 points and its highest level since November 2011.
Two of the four sub-categories of the indicator improved compared to July: manufacturing and services. Manufacturing was supported by improved production expectations and services was buoyed by more positive expectations for business trends. Manufacturing’s reading was particularly impressive as it reached its highest level since December 2007. The sub-categories of construction and retail both declined in July. Contributing to these declines were weaker order book assessments for construction, and less optimistic assessments of current sales and expectations of future sales for retail.
Author: Edward Gardner, Economist