With regard to the consumer survey, the confidence climate index decreased in May 2016 from 114.1 to 112.7. The economic, current and future components decreased: economic from 140.2 to 135.9, current from 110.0 to 109.8, future from 120.0 to 117.8, while the personal component grew from 104.8 to 105.4. The balance concerning expectations on unemployment increased from 21 to 25 over the past month. The balance on inflation perceptions referring to the last 12 months rose from -36 to -27 and the balance on inflation expectations for the next 12 months increased from -33 to -20.
With regard to business surveys, the composite business confidence climate index (IESI, Istat Economic Sentiment Indicator) increased from 102.7 to 103.4 in May.
The confidence index in manufacturing fell from 102.7 to 102.1. Assessments on order books worsened (from -14 to -15) while production expectations remained stable (at 10) and inventories decreased (from 4 to 3).
The confidence index in construction fell from 121.2 to 120.4. Assessments on order books and construction plans improved (from -35 to -34) and employment expectations worsened (from -7 to -5).
The market services confidence index fell from 107.9 to 107.4. The index increased in Transportation and storage (from 117.7 to 121.7), in Information and communication (from 103.7 to 106.6) and in Business services and Other services (from 102.2 to 105.9) while it decreased in Tourism services (from 110.7 to 98.3).
The retail trade confidence index fell from 101.9 to 100.9. The index increased in small and medium scale distribution (from 103.2 to 104.3) while it decreased in the large scale distribution (from 100.9 to 100.0).