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Financial News: Italy Consumer Confidence Highest Since Feb 2022, Business

Italy Consumer Confidence Highest Since Feb 2022, Business Morale Weakens

06/27/2024 - 06:14:00 (RTTNews)

(RTTNews) - Italy's consumer confidence improved more-than-expected in June to the highest level in twenty eight months, survey results from the statistical office Istat showed on Thursday.

Consumer sentiment rose to 98.3 in June from 96.4 in the previous month. The expected score was 97.0.

Further, this was the highest score since February 2022, when it was 100.9.

Among components, the economic climate index strengthened to 105.3 in June from 101.9 in May. The index measuring the future climate also improved strongly to 98.7 from 95.7, and the personal climate advanced from 94.4 to 95.8. Similarly, the current climate index rose to 98.1 from 97.0.

The data also showed that the composite business confidence index fell to a 7-month low of 94.5 in June from 95.1 in May.

The index measuring sentiment among manufacturers dropped to 86.8 from 88.2. Data showed that confidence weakened in both services and retail trade.

Meanwhile, the morale for construction improved, with the index rising to 104.4 from 101.7.

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