Italy: Business confidence drops in April, defying expectations
April 28, 2011
In April, the manufacturing sentiment index published by ISTAT dropped to 103.0 points. The figure was down from the revised 103.5 points (previously reported: 103.8 points) recorded in March and contrasted market analysts expectations, which saw sentiment rising to 103.8 points. While moderating following the three-year peak recorded in March, the April reading confirmed that business confidence has returned to pre-crisis levels. According to ISTAT, the decline was driven by deteriorating expectations regarding the general economy, future orders and production expectations.
Author: Armando Ciccarelli, Head of Data Solutions