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Financial News: Italy Consumer Confidence Weakest Since August 2017; Busin

Italy Consumer Confidence Weakest Since August 2017; Business Confidence Rises

03/27/2019 - 10:40:00 (RTTNews)

(RTTNews) - Italy's consumer confidence weakened to the lowest level in nineteen months and the business sentiment rose in March, figures from the statistical office ISTAT showed on Wednesday.

The consumer confidence index fell to 111.2 in March from 112.4 in February. Economists had forecast to rise 112.5.

The latest reading was the lowest sine August 2017, when the confidence was 111.2.

Households' expectation on the current and future economic situation deteriorated in March. The view on the personal economic situation also weakened.

The business confidence index rose to 99.2 in March from 98.2 in February. Business morale has been weakening since July 2018, when the score was 105.1.

Confidence deteriorated in manufacturing sector, while it improved in the construction and service sectors. Morale in retail trade was unchanged in March.

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