Italy: Business sentiment weakens further in September
September 27, 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—fell to 98.5 in September from August’s 98.9.
September’s reading came on the back of worsening confidence in the manufacturing and retail trade sectors, which more than offset stronger sentiment in the construction and market services sectors. Confidence in the manufacturing sector decreased on weaker assessments of order books, and as expectations on production levels worsened. Moreover, sentiment in retail trade deteriorated due to worse assessments of current sales. However, confidence in the market services sector edged up, as assessments of order books and the business trend became rosier. Lastly, confidence in the construction sector gained some ground, on improved assessments regarding current order books and construction.