Italy Business Confidence November 2017


Italy: Business confidence slips in November

November 27, 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—slipped to 108.8 points in November, a slight decrease from October’s multi-year high of 109.1 points.

The weakening came mainly on the back of a deterioration in sentiment on the retail trade sector, in which both the assessments on current sales and the expectations on future sales worsened. The manufacturing sector remained broadly stable, recording just a marginal deterioration, as weaker production expectations more than offset stronger assessments of order books. On the other hand, confidence in the market services sector grew on better assessments and expectations of order books. Moreover, the construction sector recorded a sizeable increase thanks to better assessments on order books and construction plans, which suggests that the sector could be turning up.

Panelists expect fixed investment to increase 2.5% in 2018, which is unchanged from last month’s forecast. For 2018, panelists see fixed investment growing 2.2%.

Author: Massimo Bassetti, Economist

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Italy Business Confidence Chart

Italy Business Confidence November 2017

Note: Value of monthly business confidence index.
Source: National Statistical Institute (Istat)

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