Italy: Economic sentiment falls to lowest level in four years in April
April 29, 2013
In April, the composite business confidence indicator (IESE, Istat Economic Sentiment Indicator) elaborated by Istat - which covers the manufacturing, construction, service and retail sectors - fell to 74.6 points from the 78.5 points seen in March, reaching its lowest level in more than four years.
The deterioration in the overall index was led by lower readings in services - where the index reached the lowest level on record -, manufacturing and construction, whereas the retail sector improved compared to the previous month.
Panellists expect fixed investment to contract 2.7% in 2013, which is up 0.1 percentage points from last month's forecast. For 2014, panellists see fixed investment growing 0.7%.
Author: Armando Ciccarelli, Head of Data Solutions