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Press release

Consumer and business confidence - May 2023

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In May 2023, the consumer confidence index slipped from 105.5 to 105.1. With regard to its components, only the economic climate grew passing from 119.0 to 119.8, while all the other ones worsened. In more detail, the current climate decreased slightly passing from 100.2 to 100.0, the future one diminished from 113.3 to 112.6 and, finally, the personal one sank from 100.9 to 100.1.

With reference to the business confidence climate, the index (IESI, Istat Economic Sentiment Indicator) decreased from 110.4 to 108.7.

The confidence climate in manufacturing moved down from 102.8 to 101.4. Both expectations on production and assessments on order books worsened (the related balances passed from 6.1 to 4.3 and from -8.6 to -10.6, respectively). According to this result, the inventory volume was deemed to slightly increase (the balance of the variable in fact passed from 4.3 to 4.6).

The confidence climate in construction decreased significantly from 164.2 to 159.4. Both its components went down: the assessments on order books/construction plans from 5.7 to 4.7 and the expectations on employment from 11.2 to 5.9.

The market services confidence climate worsened from 105.5 to 104.1. Widespread pessimism emerged from the opinions both on the current business trend and the future volume of order books (the related balances passed from 10.0 to 8.9 and from 10.3 to 6.3, respectively). Conversely, assessments on order books came out more positive (the balance of the variable increased from 7.7 to 8.5).

The retail trade confidence index decreased slightly passing from 112.9 to 111.6. Firms confirmed to be concerned on both the current and the future business trend. Analysing the balances of the variables, in fact, the one of assessments on current sales went down from 29.5 to 27.1, while the one of expectations on future volume of sales slipped from 23.2 to 22.8. Lastly, inventories further increased (the related balance varied from 6.2 to 7.2).

Reference period: May 2023

Date of Issue: 26 May 2023

Next release: 27 june 2023



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