Business sentiment in Italy is growing
2022.12.24 11:44
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Business sentiment in Italy is growing
Budrigannews.com – Friday’s data showed that business and consumer morale in Italy improved in December, despite the manufacturing sector being more upbeat.
The manufacturing, retail, construction, and services sectors are all included in the National Statistics Institute ISTAT’s composite business morale index, which rose to 107.8 in December from 106.5 in November.
Despite a decrease in manufacturers’ confidence, the sub-index fell to 101.4 from 102.5, falling short of the median forecast of 102.7 in a Reuters survey of nine analysts.
This month, consumer confidence increased to 102.5 from 98.1 in November, exceeding the Reuters poll’s forecast of 98.5 easily.
The surveys were carried out as Prime Minister Giorgia Meloni, who took office in October, was preparing her first budget, which included increased borrowing of approximately 21 billion euros to assist the economy in the coming year.
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The Treasury predicts that as a result of sky-high energy costs affecting businesses and households, Italian gross domestic product will shrink in this quarter and the following.
The manufacturing confidence survey from December received the following information from ISTAT:
DEC NOV OCT SEPT
Overall index 101.4 102.5 100.7 101.4r
Orders level -9.9 -9.5r -8.2r -6.0
Inventories 4.8 4.4r 3.9 3.2
