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Press release

Consumer and business confidence

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In August 2021, the consumer confidence index slipped from 116.6 to 116.2. Compared to July, the personal climate and the future one weakened (from 112.2 to 110.8 and from 123.5 to 122.5, respectively), the economic climate bettered (from 129.6 to 132.4), while the current one remained virtually stable (from 111.9 to 112.0).

With reference to the business confidence climate, the index (IESI, Istat Economic Sentiment Indicator) declined from 115.9 to 114.2.

The confidence index in manufacturing registered a contraction passing from 115.2 to 113.4.The unfavourable evolution was due to the deterioration both of assessments on the order books and expectations on the future production (the related balances went down from 8.2 to 6.9 and from 18.6 to 15.9 respectively). Finally, firms reported a recovery in inventories (the balance varied from -1.9 to -0.8).

The confidence index in construction decreased from 158.6 to 153.8. Both assessments on order books/construction and expectations on employment went down (from 0.9 to -4.0 and from 8.7 to 7.2 respectively).

The market services confidence index weakened from 112.1 to 111.8. More optimistic assessments were given both on order books and business trend (the balances of the variables rose from 14.0 to 18.6 and from 16.0 to 19.2, respectively), but expectations on future order books reduced drastically (the related balance dropped from 18.6 to 10.0).

The retail trade confidence index improved in August from 111.3 to 113.9. In particular, the improvement was due to the increasing expectations on future business trend, to the slight progress of assessments on current business trend and, finally, to a new stock reduction (the related balances varied from 30.1 to 33.0, from 17.1 to 18.0 and from 5.5 to 1.3, respectively). The confidence rose was not common to both kind of trade. Indeed, the index increased significantly in the large scale distribution (from 113.2 to 118.9), but it diminished in the small and medium scale one (from 104.6 to 102.0).

Reference period: August 2021

Date of Issue: 27 August 2021

Next release: 24 September 2021



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