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Press release

Consumer and business confidence - December 2022

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In December 2022, the consumer confidence index increased from 98.1 to 102.5. The improvement was particularly evident in the economic climate index, while a more gradual growth was registered for the other consumer confidence components. Compared to the previous survey, in fact, the economic climate index jumped up from 95.2 to 106.3, the future one grew from 102.8 to 108.2, the current one progressed from 94.9 to 98.6, and finally, the personal one increased from 99.0 to 101.2.

As for business confidence climate, the index (IESI, Istat Economic Sentiment Indicator) bettered from 106.5 to 107.8.

The confidence climate in manufacturing showed a negative trend: indeed, it passed from 102.5 to 101.4. The unfavourable confidence evolution was due to both the deterioration of the assessments on order books and the contraction of the expectations on future production (the balances of the variables passed from -9.5 to -9.9 and from 6.1 to 3.8, respectively). To conclude, a slight accumulation of inventories emerged (the related balance went up from 4.4 to 4.8).

The confidence climate in construction increased from 151.9 to 156.6 thanks to the recovery of the assessments on order books/construction and to the improvement of the expectations on employment (the related balances of the variables increased, in fact, from -0.4 to 3.7 and from 1.1 to 3.2, respectively).

The market services confidence index increased from 99.0 to 102.3. Firms reported a strong recovery in assessments and an improvement in expectations on order books (the related balances passed from 2.8 to 7.9 and from 2.1 to 3.4, respectively). Compared to the previous month, very positive indications came also from the assessments on business trend whose balance passed, in fact, from 3.0 to 6.9.

The retail trade confidence index marginally improved from 112.4 to 112.6. Particularly, respondents gave more positive assessments on current business activity, while they significantly worsened their expectations on future sales (the related balances passed from 18.3 to 23.3 and from 27.6 to 24.0, respectively). As for inventories, the balance increased from 0.9 to 1.7.

Reference period: December 2022

Date of Issue: 23 December 2022

Next release: 26 january 2023



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