In October 2021, the consumer confidence index weakened from 119.6 to 118.4. In particular, looking at its components, the current climate decreased from 116.1 to 113.7, the economic one went down from 143.6 to 142.2 and the personal one diminished from 111.5 to 110.4. Only the future climate showed an improvement passing from 124.7 to 125.4.
As for the business confidence climate, the index (IESI, Istat Economic Sentiment Indicator) increased from 113.7 to 115.0.
The confidence index in manufacturing improved from 113.2 to 114.9. More optimistic opinions, in particular, emerged both from the assessments on the order books and from the expectations on the future production (the balance of the variables rose from 6.5 to 9.2 and from 15.2 to 16.3, respectively). Inventories were judged to be decreasing (the related balance passed from -1.1 to -2.3).
The confidence index in construction increased from 155.5 to 159.2. Both the balance of the assessments on order books/construction and the one of the expectations on employment bettered (from -2.3 to 2.2 the balance of the first variable and from 7.7 to 8.1 the one of the second).
The market services confidence index slipped from 112.3 to 112.1. Widespread optimism emerged from the opinions on both the order books and the business trend (the balances of the variables increased from 17.1 to 18.1 and from 17.8 to 18.4, respectively), but the expectations on the future order books came out less positive (the related balance in fact diminished from 14.4 to 12.1).
The retail trade confidence index further regressed passing from 106.7 to 105.4. There was a significant deterioration of the expectations on the future volume of sales and a slight decline of the assessments on current business trend (the balances of the variables varied from 22.4 to 16.0 and from 8.3 to 8.1, respectively). Finally, the inventories again diminished (from 3.2 to 0.5, the related balance). The deterioration in confidence characterised both distribution channels. In detail, the index slackened in the large scale distribution (from 109.0 to 108.1), and declined in the small and medium scale one (from 102.2 to 100.8).