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Financial News: Italy Consumer Confidence Improves; Business Morale Weaken

Italy Consumer Confidence Improves; Business Morale Weakens

05/29/2024 - 07:34:00 (RTTNews)

(RTTNews) - Italy's consumer confidence increased more-than-expected in May after falling in the previous two months as all subcomponents made positive contributions, survey results from the statistical office Istat showed on Wednesday.

Consumer sentiment rose to 96.4 in May from 95.2 in the previous month. The expected score was 96.0.

Among components, the economic climate index strengthened to 101.9 in May from 99.4 in April. The index measuring the future climate also improved strongly to 95.7 from 93.9, and the personal climate advanced from 93.7 to 94.4. Similarly, the current climate index rose to 97.0 from 96.2.

The data also showed that the composite business confidence index fell to a 6-month low of 95.1 in May from 95.8 in April.

The index measuring sentiment among manufacturers rose to 88.4 from 87.7. Meanwhile, the morale for construction worsened, with the index falling to 101.6 from 103.3. Data showed that confidence remained broadly stable in the retail trade, while morale for services declined.

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