Italy Business Confidence November 2022

Italy

Italy: Business confidence strengthens in November

November 25, 2022

Business confidence came in at 104.7 in November, up from October's 106.4.

November's reading was driven by improving sentiment in the manufacturing, market services and trade sectors. On the flip side, confidence in the construction sector deteriorated.

Commenting on the release, Paolo Pizzoli, senior economist at ING, stated:

“All in all, notwithstanding today’s surprisingly strong confidence data, we do not believe an economic turnaround is in the making, as yet. The negative impact of inflation remains in place both for consumers and businesses and we suspect that the refinanced compensation measures will not be enough to prevent a GDP contraction in the fourth quarter of this year.”

FocusEconomics Consensus Forecast panelists see fixed investment increasing 0.4% in 2023, which is unchanged from last month’s estimate. For 2024, the panel expects fixed investment to increase 1.4%.


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Italy Business Confidence November 2022

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


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