Consumer and business confidence - April 2025

In April 2025, the consumer confidence index diminished from 95.0 to 92.7. A reduction characterized all its components: the economic climate worsened from 93.2 to 89.6, the personal one from 95.7 to 93.9, the current one from 97.9 to 95.4 and, finally, the future one from 91.1 to 89.1.

With reference to the business confidence climate, the index (IESI, Istat Economic Sentiment Indicator) further declined from 93.2 to 91.5.

The manufacturing confidence climate weakened from 86.0 to 85.7. In detail, assessments on order books marginally improved, while expectations on future production decreased (the related balances varied from -23.2 to -22.6 and from -1.0 to -2.4 respectively). Lastly, the balance of the inventories remains stable at 3.0.

The construction confidence climate declined from 104.6 to 103.6. Among confidence-building variables, labour market expectations worsened (the related balance varied from 11.5 to 9.4), while assessments on order books unchanged (the balance of the variable, in fact, remained stable at -2.1).

The market service confidence climate further declined from 94.3 to 91.4. The unfavourable evolution was due to the worsening of both expectations and assessments on order books (the balances of the variables regressed from -2.4 to -4.7 and slipped from 2.5 to -2.7, respectively). Moreover, surveyed firms continued to be pessimistic about their current business trend (the related balance decreased from 2.0 to 0).

The retail trade confidence climate edged down from 103.8 to 101.8. Respondents markedly worsened their assessments on current business activity (the related balance slumped from 14.1 to 6.0), while they positively appraised future volume of sales (the balance of the variable grew from 26.1 to 28.6). With regard to the inventories, the balance increased once more from 7.8 to 8.7.