Italy Economic Sentiment June 2020

Italy

Italy: Business confidence improves somewhat but remains deeply pessimistic in June

June 26, 2020

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.

FocusEconomics Consensus Forecast panelists see fixed investment diving 14.8% in 2020, which is unchanged from last month’s estimate. For 2021, the panel expects fixed investment to increase 7.2%.


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