Italy Business Confidence September 2019


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.

FocusEconomics panelists expect fixed investment to record zero growth in 2019, which is unchanged from last month’s forecast. For 2020, panelists see fixed investment growing 0.9%.

Author: Massimo Bassetti, Senior Economist

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Italy Business Confidence Chart

Italy Business Confidence September 2019

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

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