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Press release

Consumer and business confidence - December 2023

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In December 2023, the consumer confidence index increased from 103.6 to 106.7. Particularly marked positive signals came from the economic climate index whose value surged from 111.0 to 118.6. The improvement in confidence characterized, albeit to a lesser extent, also the other confidence indexes. More in detail, the future one rose from 109.3 to 113.5, the current one progressed from 99.8 to 102.2, and finally, the personal one increased from 101.2 to 102.8.

With reference to the business confidence climate, the index (IESI, Istat Economic Sentiment Indicator) advanced from 103.5 to 107.2.

The confidence climate in manufacturing lowered from 96.6 to 95.4. The opinions on order books remained virtually stable, while the expectations on production worsened (the balances of the variables passed from -21.2 to -21.1 and from 1.8 to -1.5, respectively). Finally, the balance of assessments on inventories held steady (5.2).

The confidence climate in construction moved up from 161.3 to 162.9. Both assessments on order books/construction and expectations on employment improved (the related balances varied from 5.5 to 6.7 and from 7.6 to 8.5, respectively).

The market services confidence climate improved forcefully from 96.7 to 106.4. Respondents expressed greater satisfaction with the current volume of both business activity and order books (the balance of the first variable recovered from -1.9 to 13.9, while the one of the second passed from -0.9 to 9.3).Optimistic hints were reported also on the future volume of order books (the related balance went up from 3.6 to 7.6).

The retail trade confidence index increased slightly from 107.5 to 107.8. Surveyed firms revised up the assessments on the current business activity, but showed concern about the future trend in sales (the balance of the former variable rose from 13.0 to 19.1, and the one of the latter worsened from 27.2 to 20.1). Lastly, inventories was considered to have decreased (the related balance went down from 10.2 to 8.3).

Reference period: December 2023

Date of Issue: 22 December 2023

Next release: 6 February 2024



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