In March 2024, the consumer confidence index declined from 97.0 to 96.5. Looking at its components, the current and the personal confidence indices worsened from 97.0 to 96.0 and from 95.2 to 94.6 respectively, while the future one and the economic one remained practically unchanged passing from 97.1 to 97.2 the first, and from 102.0 to 101.9, the second.
With reference to the business confidence climate, the index (IESI, Istat Economic Sentiment Indicator) progressed from 95.9 to 97.0.
The confidence climate in manufacturing improved from 87.5 to 88.6. Compared to the previous survey, assessments on order books and expectations on production got better (the related balances went from -18.0 to -16.7 and from -0.5 to 1.0, respectively). Lastly, level of inventories declined from 3.7 to 3.2.
The confidence climate in construction bettered from 104.3 to 105.8. More specifically, expectations on employment improved (the related balance went up from 6.7 to 9.8), while assessments on order books/construction remained stable (the balance of the variable, in fact, changed from 2.2. to 2.1).
The market services confidence climate showed an improvement passing from 100.2 to 100.7. Analysing the variables included in the index definition, optimistic hints were reported from both assessments on order books and current business trend (the balances of the variables improved from 7.2 to 8.8 and from 8.6 to 9.9 respectively). By contrast, expectations on order books worsened (the related balance diminished from 5.0 to 3.9).
The retail trade confidence index came in at 104.6 (compared to 100.8 in February). Both opinions on current business activity and expectations for the future volume of sales improved, while the level of inventories was considered to have decreased (the balance of the variables passed from 11.0 to 16.3, from 20.1 to 24.7 and from 8.4 to 6.0, respectively).