Italy: Business confidence speeds to highest level in over two years
January 29, 2014
In January, the National Institute for Statistics (Istat) composite business confidence indicator (IESE, Istat Economic Sentiment Indicator), which covers the manufacturing, construction, service and retail sectors, rose from the 83.8 points recorded in December to 86.8 points. The print marked the highest reading since November 2011.
The improvement was driven by stronger readings in the services and retail sectors, whereas manufacturing and construction fared worse than in the previous month.
Panelists expect fixed investment to contract 0.8% in 2014, which is unchanged from last month's forecast. For 2015, panelists see fixed investment growing 1.9%.
Author: Armando Ciccarelli, Head of Data Solutions