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Press release

Consumer and business confidence - August 2023

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In August 2023, the consumer confidence index decreased slightly from 106.7 to 106.5. Compared to the previous month, there was an improvement of the personal and the current climate indexes (from 101.1 to 101.5 and from 101.0 to 101.4, respectively), but negative signals came both from the economic and the future climates (from 123.4 to 121.5 the first and from 115.0 to 114.1 the second).

With reference to the business confidence climate, the index (IESI, Istat Economic Sentiment Indicator) changed for the worse from 108.9 to 106.8.

The confidence climate in manufacturing decreased from 99.1 to 97.8. More specifically, unfavourable signals came both from assessments on order books and expectations on production (the related balances got worse from -16.3 to -18.9 and from 3.9 to 2.7, respectively). With regard to stocks, their level held virtually stable (indeed, the balance of the variable modified from 4.9 to 4.8).

The confidence climate in construction worsened from 166.5 to 160.2. Looking at its components, the balance of assessments on order books/construction reduced drastically (its value degenerated from 7.2 to 2.2), while the one of expectations on employment slackened (it went down from 12.8 to 9.5).

The market services confidence climate decreased passing from 105.5 to 103.6. The balances referring to the opinions both on current business trend and future volume of order books diminished (the related balances passed from 13.0 to 7.5 and from 7.4 to 6.1, respectively). Conversely, an improvement was observed in assessments on order books (the balance of the variable rose from 7.7 to 8.7).

The retail trade confidence index went down from 111.0 to 108.8. In particular, the worsening was due to decreasing assessments and expectations on the business trend (balances of both the variables regressed, passing from 24.2 to 23.5 the first and from 24.2 to 22.0 the second), while inventories grew further (the related balances moved from 7.5 to 11.3).

Reference period: August 2023

Date of Issue: 30 August 2023

Next release: 28 september 2023



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