Italy: Business confidence hits highest level in 18 months
September 27, 2013
In September, the National Institute for Statistics (Istat) composite business confidence indicator (IESE, Istat Economic Sentiment Indicator) - which covers the manufacturing, construction, service and retail sectors - rose to 83.3 points, up from the 82.0 points recorded in August. The print marks the highest reading since March of last year.
The improvement was broad-based with all categories increasing over the previous month. In particular, the manufacturing and retail sectors recorded their strongest results in more than two years.
Panelists expect fixed investment to contract 3.6% in 2013, which is up 0.1 percentage points from last month's forecast. For 2014, panelists see fixed investment growing 0.7%.
Author: Armando Ciccarelli, Head of Data Solutions