Italy: Business sentiment virtually stable in November
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 99.1 in November from October’s 98.9.
November saw confidence in the market services and retail sectors broadly unchanged, while confidence in the manufacturing and construction sectors losing some ground. Confidence in the market services sector was unchanged, as better assessments of order books offset deteriorated assessment of the business trend. Additionally, sentiment in retail trade held broadly steady. On the flip side, confidence in the manufacturing sector dropped on weaker assessments of order books and expectations on production levels. Moreover, confidence in the construction sector lost some ground, on worsened assessments regarding current order books and employment.