In February 2024, the consumer confidence index increased from 96.4 to 97.0. Looking at data break down, unfavourable signals came from the economic climate index (it worsened from 103.1 to 102.0), while the future one remained practically unchanged (from 97.2 to 97.1). Finally, both the personal climate index and the current one made progress (the former went up from 93.9 to 95.2 and the latter from 95.8 to 97.0).
With reference to the business confidence climate, the index (IESI, Istat Economic Sentiment Indicator) fell from 97.9 to 95.8.
The confidence climate in manufacturing declined from 88.1 to 87.3. The confidence worsening, common to all index building variables, was particularly evident in expectations on production (the related balance, in fact, dropped from 0.7 to -0.9), while the balance of assessments on order books diminished from -17.1 to -18.2 and the one of inventories shrank from 4.0 to 3.8.
The confidence climate in construction worsened from 107.0 to 104.4. In particular, some concerns came from both the assessments on order books/construction and the expectations on employment (the balance of the variables went down from 4.9 to 2.3 and from 9.3 to 6.7, respectively).
The market services confidence climate deteriorated from 102.5 to 100.2. Widespread pessimism emerged from both assessments on current business trend and expectations on future volume of order books (the related balances passed, in fact, from 12.3 to 8.5 and from 7.9 to 5.1, respectively). The assessments on order books gave less favourable indications too (the balance of the variable slipped from 8.0 to 7.2).
The retail trade confidence index reduced drastically passing from 106.3 to 100.6. Negative developments were due to the worsening in both current business activity and future volume of sales, while overstocks were considered to have increased (the balance of the variables passed from 19.6 to 10.8, from 27.4 to 20.0 and from 6.5 to 8.6, respectively).
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January 2024 – Press release