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Financial News: Italy Consumer Confidence Improves Unexpectedly; Business

Italy Consumer Confidence Improves Unexpectedly; Business Confidence Strengthens

03/29/2017 - 06:01:00 (RTTNews)

(RTTNews) - Italy's consumer confidence improved for the first time in three months in March, and business confidence strengthened to the strongest level in fifteen months, survey data from the statistical office Istat showed Wedenesday.

The consumer confidence index climbed to 107.6 in March from 106.6 in the prior month. Meanwhile, it was forecast to remain stable at 106.6.

Households' expectations regarding the general economic situation of the country for the next twelve months improved in March. The corresponding index rose to 111.6 from 109.9 in February.

Data also showed that the composite business confidence index increased to 105.1 in March from 104.3 in February. Moreover, this was the highest score since December 2015, when it marked 105.6.

Among components, the manufacturing confidence index improved 107.1 in March from 106.4 a month ago. The confidence indicator for the service sector also strengthened, while the construction sentiment weakened during the month.

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