Business confidence

In December 2013 the composite business confidence climate index (IESI, Istat Economic Sentiment Indicator), obtained by summarizing the confidence climates of manufacturing, construction, market services and retail trade, increased to 83.6 from 83.4 in November.

The confidence index in manufacturing rose to 98.2 from 98.0. Assessments on order books and production expectations worsened (from -25 to -27 and from 5 to 4, respectively); inventories decreased (from -1 to -4).

The confidence index in construction rose to 82.6 from 80.4. Assessments on order books and construction plans improved (from -45 to -42), while employment expectations remained stable (to -21).

The market services confidence index rose to 80.6 from 80.5 in November. The index increased in Tourism services (from 68.5 to 74.2) and in Information and communication (from 82.9 to 83.6) while it decreased in
Transportation and storage (from 86.8 to 84.2) and in Business services and other services (from 78.6 to 74.8).

The retail trade confidence index remained stable to 90.7. The confidence remained stable in the large-scale distribution (to 91.5) and it decreased in small and medium scale distribution (from 91.0 to 90.2).