Italy Economic Sentiment July 2020


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

July 24, 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—rose from 66.2 in June to 76.7 in July.

July’s rise came on the back of a broad-based improvement across all sectors. That said, overall confidence remained downbeat. The largest improvement was recorded in the market services sector, while the manufacturing, construction 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%.

Author: Massimo Bassetti, Senior Economist

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