Italy: Economic sentiment down in June
June 28, 2013
In June, the composite business confidence indicator (IESE, Istat Economic Sentiment Indicator) elaborated by Istat - which covers the manufacturing, construction, service and retail sectors - dropped to 76.1 points from the 80.2 points recorded in May, almost completely offsetting the improvement seen last month.
The deterioration in the overall index was mainly due to a worsening in the construction and service sectors, whereas the manufacturing sector improved compared to the previous month.
Panellists expect fixed investment to contract 3.6% in 2013, which is up 0.1 percentage points from last month's forecast. For 2014, panellists see fixed investment growing 0.7%.
Author: Armando Ciccarelli, Head of Data Solutions