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Press release

Consumer and business confidence - October 2023

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In October 2023, the consumer confidence index reduced from 105.4 to 101.6. A drop characterized all its components: the future climate worsened from 113.2 to 107.7, the economic one from 115.2 to 110.5, the personal one from 102.2 to 98.6 and, finally, the current one from 100.2 to 97.4.

With reference to the business confidence climate, the index (IESI, Istat Economic Sentiment Indicator) confirmed its decrease, moving down from 104.9 to 103.9.

The confidence climate in manufacturing regressed from 96.4 to 96.0. On the whole, firms showed more concern about current order books (the related balance passed from -19.4 to -21.2), but predicted a slight recovery for production (the balance moved up from 0.3 to 0.6). At the same time, the level of inventories varied from 6.0 to 5.5.

The confidence climate in construction rose from 160.9 to 163.8. Among the confidence-building variables, both assessments on order books/construction and expectations on employment improved (the related balances developed significantly, passing from 4.2 to 6.4 from 8.4 to 10, respectively).

The market services confidence climate worsened from 100.5 to 98.1. Respondents marginally improved their prospects on order books (the balance of the variable passed from 4.5 to 4.9), but significantly changed for the worse their assessments on both business condition and order books (the related balances passed from 4.9 to 0.1 and from 3.1 to 0.2, respectively).

The retail trade confidence index extended its downward path passing from 107.1 to 106.0. Particularly, compared to the previous month, assessments on current business conditions showed a slight improvement, while expectations on future sales worsened (the first balance passed from 16.1 to 16.9, the second one diminished from 21.3 to 18.7). Lastly, inventories were considered to have built up (the related balance increased from 8.4 to 10.1).

Reference period: October 2023

Date of Issue: 27 October 2023

Next release: 29 November 2023



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