Italy Business Confidence October 2019


Italy: Business sentiment broadly unchanged in October

October 30, 2019

The National Institute of Statistics (Istat)’s composite business confidence indicator (Clima di Fiducia delle Imprese Italiane, IESE)—which covers the manufacturing, construction, market services and retail sectors—rose to 99.0 in October from September’s 98.6.

October’s reading came on the back of higher confidence in the manufacturing, market services and retail trade sectors, which more than offset weaker sentiment in the construction sector. Confidence in the manufacturing sector increased on stronger assessments of order books and expectations on production levels. Moreover, sentiment in retail trade get rosier due to higher expectations of future sales. Additionally, confidence in the market services sector edged up, as assessments of order books and the business trend went up. On the flip side, confidence in the construction sector lost some ground, on worsened assessments regarding current order books and employment.

FocusEconomics Consensus Forecast panelists see fixed growing 0.9% in 2020, which is unchanged from last month’s estimate. For 2021, the panel expects fixed investment to increase 1.0%.

Author: Massimo Bassetti, Economist

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Italy Business Confidence Chart

Italy Business Confidence October 2019

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

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