Italy: Business confidence drops to lowest level in almost three years
May 28, 2012
In May, the ISTAT manufacturing sentiment index dropped to 86.2 points, from the revised 89.1 points recorded in April (previously reported: 89.5 points). The deterioration exceeded market expectations, which saw sentiment dropping to 88.6 points. With the May drop, business confidence fell to its lowest level since August 2009. According to ISTAT, the decline was broad-based, and particularly reflected a more pessimistic outlook on expected orders and production.
Author: Armando Ciccarelli, Head of Data Solutions