In February 2022, the consumer confidence index deteriorated for the second month in a row (it went down from 114.2 to 112.4). Looking at the index components, only the future climate showed signals of recovery (it rose from 113.5 to 116.6), while all the other ones worsened. In more detail, the current climate fell from 114.7 to 109.6, the personal one diminished from 109.0 to 106.8 and, finally, the economic one slipped from 129.7 to 129.4.
Regarding the business confidence climate, the index (IESI, Istat Economic Sentiment Indicator) rose from 105.3 to 108.2.
The confidence climate in manufacturing worsened from 113.7 to 113.4. Assessments on order books and expectations on future production deteriorated (the balances passed from 9.1 to 8.1 and from 16.4 to 15.0 respectively). The level of inventories decreased (the balance went down from 1.2 to -0.4).
The confidence index in construction went up from 158.8 to 159.7. Both assessments on order books/construction plans and expectations on employment improved (from -0.4 to 0.5 and from 10.2 to 10.5 respectively).
The market services confidence increased from 94.9 to 100.5. All the variables included in the definition of the confidence climate recovered: the balance of the assessments on order books passed from -5.1 to 5.3, the one of the assessments on business trend increased from – 1.1 to 2.9 and, finally, the one of the expectations on order books put up from 1.5 to 4.3.
The retail trade confidence index decreased again from 106.6 to 104.9. More specifically, firms gave a sharply negative appraisal of the volume of current sales and reported a rise in the level of inventories (the balances went from 12.6 to 5.9 and from 1.8 to 3.0, respectively). Respondents, instead, expressed more positive expectations on their future sales (from 16.4 to 19.1 the relative balance).