Financial News: Italy Consumer Confidence, Business Morale Weakens In Octo

Italy Consumer Confidence, Business Morale Weakens In October

10/25/2024 - 06:51:00 (RTTNews)

(RTTNews) - Italy's consumer confidence decreased in October after improving in the previous month, while composite business confidence weakened to the lowest level in nearly three-and-a-half years amid negative trends in manufacturing and market services, survey data from the statistical office Istat showed on Friday.

Consumer sentiment dropped to 97.4 in October from 98.3 in the previous month.

Among components, the economic climate index declined to 99.7 in October from 103.9 in September, and the future climate worsened from 97.4 to 95.0. Meanwhile, the index measuring the personal climate also rose slightly to 96.6 from 96.3, and the current climate index rose to 99.2 from 99.0.

The data also showed that the composite confidence index fell to 93.4 in October from 95.6 in September. The manufacturing confidence index dropped to 85.8 from 86.6 as the judgments on the level of orders and the expectations on the level of production worsened.

The index for market services decreased notably to 95.3 from 100.4, led by deterioration in all components. Meanwhile, the morale strengthened in the construction and retail sectors.

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