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FX.co ★ Italy Consumer Confidence Eases To 6-Month Low; Business Morale Weakens

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typeContent_19130:::2023-09-28T10:19:00

Italy Consumer Confidence Eases To 6-Month Low; Business Morale Weakens

Italy's consumer confidence decreased further in September to the lowest level in six months, and business morale weakened to the lowest level in nearly a year, survey results from the statistical office Istat showed on Thursday.

The consumer sentiment fell to a 6-month low of 105.4 in September from 106.5 in the previous month. Economists had expected the index to decrease to 105.5.

Among components, the economic sentiment of consumers dropped from 121.5 in September to 115.2 in August.

The index measuring the future climate declined to 113.2 from 114.1, while the personal climate index rose to 102.2 from 101.5.

Data also showed that the composite business confidence index fell to 104.9 in September from 106.7 in the prior month.

Further, this was the lowest score since October last year, when it was 104.9.

Among components, all sectors recorded decreases in September, except construction, the survey said.

The index measuring sentiment among manufacturers worsened to a 34-month low of 96.4 from 97.7. The expected reading was 97.8. In construction, the index rose slightly from 160.2 to 160.9.

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