Italy: Business confidence drops in July
July 27, 2011
In July, the manufacturing sentiment index published by ISTAT dropped to 98.5 points. The figure was down from the 100.5 points recorded in June and undershot market analyst expectations, which saw sentiment at 99.8 points. The July reading marked a fourth consecutive drop in the index and saw sentiment declining to its lowest level since June 2010. According to ISTAT, the decline was driven by a deteriorating assessment of the current and expected level of total orders, in addition to more pessimistic expectations regarding the general economy.
Author: Armando Ciccarelli, Head of Data Solutions