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Italy Economic Sentiment October 2023

Italy: Economic sentiment decreases in October

Economic sentiment fell to 96.9 in October from September’s 97.8. October’s result marked the worst reading since October 2022. As a result, the index remained below the long-term average of 100, pointing to a muted near-term outlook for the economy.

The headline print reflected declining sentiment in the industrial sector and improved sentiment in the construction sector. Meanwhile, confidence in the services sector cooled in October, while sentiment in the retail sector weakened in the surveyed month. Lastly, consumer confidence softened in October.

Referring to indicators that are not used to calculate the index, employment expectations weakened, while the economic uncertainty index improved in October.

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