Italy's consumer confidence saw a notable uptick in May, surpassing expectations after declines in the previous two months, according to the latest survey from the statistical office Istat.
Consumer sentiment improved to 96.4 in May, up from 95.2 in April, exceeding the forecasted score of 96.0.
Breaking down the components, the economic climate index increased to 101.9 in May from April's 99.4. Similarly, the index for future climate saw substantial growth, rising to 95.7 from 93.9, while the personal climate index advanced to 94.4 from 93.7. The current climate index also experienced an increase, moving to 97.0 from 96.2.
Conversely, the composite business confidence index dropped to a six-month low of 95.1 in May, down from 95.8 in April.
Within the business sector, the sentiment among manufacturers rose to 88.4 from 87.7. However, morale in the construction industry declined with the index falling to 101.6 from 103.3. Confidence in the retail trade remained relatively stable, whereas morale in the services sector diminished.
