Italy: Business confidence improves somewhat but remains deeply pessimistic in June
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—pulled up from an all-time low of 52.7 in May to 65.4 in June.
June’s rise came on the back of a broad-based improvement across sectors. That said, confidence remained downbeat. The largest improvement was recorded in the construction sector, while the manufacturing, market services and retail trade sectors regained ground to a lesser extent.