Business confidence

In September 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 75.5 from 79.0 in August.

The confidence index in manufacturing increased to 88.3 from 87.3. Assessments on order books remained stable while production expectations improved and inventories decreased.

The confidence index in construction rose to 86.5 from 82.4. Employment expectations increased (from -17 to -5 the balance) while assessments on order books and construction plans decreased  (from -44 to -46).

The market services confidence index fell to 72.1 in September (from 78.5 in August). The index decreased in Transportation and storage (to 59.3), in Information and communication (to 75.9) and in Business services and other services (to 79.0); instead it increased in Tourism services (to 65.8).

The retail trade confidence index increased to 78.5 in September (from 75.3 in August). The confidence increased in small and medium scale distribution (from 85.5 to 86.2) and in large scale distribution (from 63.1 to 70.5).