Business confidence

In December 2014 the composite business confidence climate index (IESI, Istat Economic Sentiment Indicator) remained stable to 87.6.

The confidence index in manufacturing rose to 97.5 from 96.5. Assessments on order books and production expectations improved (from -25 to -24 and from 3 to 5, respectively); inventories remained stable (at 2).

The confidence index in construction fell to 72.3 from 73.7. Employment expectations improved (from -28 to -27) but assessments on order books and construction plans worsened (from -49 to -53).

The market services confidence index fell to 86.6 from 88.6. The index increased in Tourism services (from 66.8 to 73.1) while it decreased in Transportation and storage (from 90.6 to 80.5), in Information and communication (from 84.9 to 83.4) and in Business services and other services (from 90.3 to 85.0).

The retail trade confidence index rose to 104.6 from 98.1. The confidence increased in the large-scale distribution (from 95.0 to 105.8) and in small and medium scale distribution (from 101.2 to 104.2).