Italy: Economic sentiment rebounds in May
May 29, 2013
In May, the composite business confidence indicator (IESE, Istat Economic Sentiment Indicator) elaborated by Istat - which covers the manufacturing, construction, service and retail sectors - rose to 79.8 points from the 74.9 points seen in April, rebounding from a four-year low and reaching the highest level since the beginning of the year.
The improvement in the overall index was broad-based, as all sectors fared better than in the previous month, and was led in particular by stronger performances in the services and construction sectors.
Panellists expect fixed investment to contract 3.6% 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