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Financial News: Italy Consumer Confidence Improves More Than Forecast

Italy Consumer Confidence Improves More Than Forecast

05/26/2022 - 10:00:00 (RTTNews)

(RTTNews) - Italy's consumer confidence improved more-than-expected in May, after worsening in the previous month, survey results from the statistical office Istat showed on Thursday.

The consumer confidence index rose to 102.7 in May from 100.0 in April, which was the lowest reading since November 2020. Economists had expected a score of 100.2.

Among components, economic sentiment of consumers strengthened notably to 103.6 in May from 97.3 in April. The index measuring the current climate rose from 100.8 to 104.6 and that for future situation improved to 99.8 from 98.9.

The composite business confidence index also signaled a positive trend in May, by rising to 110.9 from 108.4.

The index measuring confidence in the manufacturing declined in May, with the corresponding index falling to 109.3 from 109.9 in April. The expected score was 109.0.

In retail trade, the sentiment strengthened from 103.6 to 105.5 and the confidence index for the market services rose to 103.6 from 97.2.

Meanwhile, the sentiment index for construction weakened to 158.7 from 160.6 in the prior month.

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