Consumer confidence in Italy rose in May, following two consecutive monthly declines, new data from Istat has revealed.
Istat’s consumer confidence index rose from 90.8 in April to 93.4 in May, with improvements recorded across all major components of the survey.
Consumer expectations about the future strengthened notably, with the future confidence component increasing from 82.5 to 87.2, while the economic component rose from 82.7 to 86.2.
Personal confidence improved from 93.8 to 96.0, while the current conditions index also edged higher from 96.9 to 98.0.
Business confidence declines
In contrast, overall business confidence declined again in May, with Istat’s Economic Sentiment Indicator (IESI) falling from 95.1 to 94.1.
Manufacturing confidence remained broadly stable (at 87.9), supported by a slight improvement in order book assessments, although inventories continued to rise and production expectations remained flat.
The construction sector recorded a further deterioration in sentiment, with confidence falling from 100.8 to 99.4 as companies reported weaker order books and lower employment expectations.
Confidence among market services firms also weakened significantly, declining from 98.9 to 96.8 amid worsening assessments of orders and business activity.
The retail trade was the only business sector to show a modest improvement, with confidence rising slightly from 100.8 to 101.0. Retailers reported stronger assessments of current business conditions, although expectations for future sales weakened marginally.
The next set of Istat consumer confidence data is set to be published on 26 June. Read more here.
