Italy: Business confidence steps down in February
February 24, 2011
In February, the manufacturing sentiment index published by ISTAT fell to 103.0 points. The figure was a slight deterioration compared to the revised 103.4 points (previously reported: 103.6 points) recorded in January and contrasted market analysts expectations, which saw sentiment rising to 103.8 points. However, the monthly reading represented the second strongest result since March 2008, thus confirming the notion that business confidence has returned to pre-crisis levels. According to ISTAT, businesses have a more upbeat opinion regarding the current situation of orders and in particular orders from abroad, while having a less positive opinion on the current level of production. In addition, respondents to the survey have less optimistic expectations regarding both orders and production going forward, in line with a deterioration of the outlook on the general economy.
Author: Armando Ciccarelli, Head of Data Solutions