Italy Consumer Confidence Improves In August; Factory Morale Falls

Italy’s consumer confidence improved more-than-expected in August, while business sentiment weakened unexpectedly, survey figures from ISTAT showed Friday.

The consumer confidence index rose to 109.0 in August from 106.7 in the previous month, revised up from 106.5. Economists had expected the index to rose to 107.

The survey showed that all components of the consumer confidence index on economic and personal financial expectations increased in August.

The balance on inflation perceptions referring to the last 12 months rose to -14 in August from -17 in the previous month, and that for the next 12 months grew to -14 from -22. Meanwhile, the unemployment expectations declined slightly to 27 from 28.

However, the confidence index in manufacturing declined to 102.5 in August from 103.5 in the preceding month. The index was expected to rise to 103.6.

The composite business confidence index decreased to 103.7 in August from 104.3 in the preceding month. Meanwhile, the construction confidence index came in at 119.5 in August, up from 117.6 in July, and retail trade confidence rose to 107.5 from 106.9.

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