Consumer and business confidence

In August 2020, the consumer confidence bettered from 100.1 to 100.8. Particularly, compared to the previous month the economic climate, the current one and the future one increased (from 85.9 to 90.1, from 97.3 to 98.1, and from 104.3 to 105.3, respectively), while the personal one lessened only slightly (from 105.2 to 104.9).

Concerning the business confidence climate, the index (IESI, Istat Economic Sentiment Indicator) confirmed its growth trend, passing from 77.0 to 80.8.

The confidence index in manufacturing got better from 85.3 to 86.1. More specifically, the opinions on order books progressed, while expectations on production declined (the balance of the variables passed from -47.8 to -42.4 and from -3.1 to -4.0, respectively). Lastly, the balance of assessments on inventories moved from 5.9 to 7.9.

The confidence index in construction increased from 129.7 to 132.6. Looking at the series composing the index, the balance of assessments on order books/construction decreased from -24.3 to -25.7 and the one of employment expectations improved from -4.4 to 1.0.

The market services confidence index increased from 66.0 to 74.7. More specifically, the assessments on order books and the assessments on business trend improved (the related balances went up from -49.1 to -30.6 the first and from -47.8 to -34.1 the second), while the expectations on order books decreased (the balance of the variable passed from 2.2  to -2.9).

The retail trade confidence index rose from 86.7 to 94.0. In detail, the balance of assesments on current sales recovered from -36.4 to -26.0, while the one on future business increased from 17.5 to 20.0.  As for stocks, they were considered to have drasticaly diminished. The related balance diminished from 14.8 to 5.5. The improvement in confidence was spread across both distribution channels: the confidence index rose from 79.6 to 81.3 in the small and medium scale distribution  and from 89.0 to 98.5 in the large scale one.

For a correct explanation of the evolution of the composite index (IESI) compared to the dynamics of the confidence climates at sector level, see the methodological note.