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Press release

Consumer and business confidence - January 2023

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In January 2023, the consumer confidence index decreased from 102.5 to 100.9. Compared to the previous month, there was an improvement of the economic and the future confidence climate indexes (from 106.3 to 107.6 and from 108.2 to 108.6, respectively), but a significant degeneration of the personal and the current ones (from 101.2 to 98.6, the first and from 98.6 to 95.7, the second).

As for business confidence climate, the index (IESI, Istat Economic Sentiment Indicator) showed a further improvement moving up from 107.9 to 109.1.

The confidence climate in manufacturing improved from 101.5 to 102.7 backed by optimism about future developments in order books and future production and by de-stocking of inventories (the balances of the variables passed from -9.6 to -8.1, from 3.9 to 4.5 and, finally, from 4.7 to 3.4, respectively).

The confidence climate in construction bettered from 156.6 to 158.8. Among the series included in the definition of the climate, expectations on employment demonstrated strong optimism, whereas assessments on order books/construction showed a weakening (the related balances went from 3.2 to 7.3 and from 3.7 to 2.5, respectively).

The market services confidence index continued to improve passing from 102.4 to 104.2. More specifically, both the assessments and the expectations on order books improved (the related balances passed from 7.9 to 8.8 and from 3.7 to 6.9, respectively). Moreover, the opinions on business trend also gave more favourable indications and the related balance rose from 6.9 to 8.4.

The retail trade confidence index deteriorated from 112.4 to 110.3. In particular, the worsening was due to the strongly decreasing expectations on the future business trend, while the assessments on the current sales showed signals of optimism (the related balances passed from 23.3 to 12.1 and from 23.7 to 29.2, respectively). Finally, the level of the inventories grew from 1.9 to 2.5.

Reference period: January 2023

Date of Issue: 26 January 2023

Next release: 27 February 2023



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