Business confidence

In November the composite business confidence climate index (IESI, Istat Economic Sentiment Indicator), obtained by summarizing the confidence climates of manufacturing, construction, market services and retail trade, decreased to 76.4 from 77.1 in October.

The confidence index in manufacturing rose to 88.5 from 87.8. Assessments on order books decreased, production expectations improved and inventories remained stable.

The confidence index in construction fell to 79.7 from 81.1. Employment expectations increased (from -18 to -17) while assessments on order books and construction plans decreased (from -48 to -50).

The market services confidence index fell to 73.5 from 75.6 in October. The index increased in Transportation and storage (from 65.6 to 68.2 ) and in Tourism services (from 72.3 to 73.2), while it declined in Information and communication (from 79.6 to 76.3) and in Business services and other services (from 79.1 to 74.5).

The retail trade confidence index rose to 80.9 from 80.2 in October. The confidence increased in large scale distribution (from 78.2 to 78.4) and in small and medium scale distribution (from 85.6 to 86.9).