In January 2014 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 86.8 from 83.8 in December.
The confidence index in manufacturing fell to 97.7 from 98.2. Production expectations improved (from 4 to 5) while assessments on order books remained stable (to -27); inventories increased (from -4 to -1).
The confidence index in construction fell to 76.5 from 82.2. Assessments on order books and construction plans and employment expectations worsened (from -42 to -49 and from -21 to -23, respectively).
The market services confidence index rose to 88.5 from 80.9. The index increased in Transportation and storage (from 84.2 to 108.0), in Information and communication (from 83.6 to 91.5) and in Business services and other services (from 74.8 to 83.7) while it decreased in Tourism services (from 74.2 to 70.8)
The retail trade confidence index rose to 93.5 from 90.7. The confidence increased in the large-scale distribution (from 92.2 to 92.8) and in small and medium scale distribution (from 90.7 to 94.8).