Consumer and business confidence - August 2024

In August 2024, the consumer confidence index lowered from 98.9 to 96.1. All components worsened: the economic climate decreased from 105.6 to 102.3, the personal one from 96.5 to 93.8, the current one from 98.5 to 96.3 and, finally, the future one from 99.4 to 95.7.

With reference to the business confidence climate, the index (IESI, Istat Economic Sentiment Indicator) went up from 94.3 to 94.7.

The manufacturing confidence climate declined from 87.6 to 87.1. Assessments on order books and  expectations  on production  worsened (the balances went down from -20.5 to -21.2 and from 1.4 to 1.0, respectively). Lastly, stocks were considered to have built up (the balance increased from 2.8 to 3.5).

The construction confidence climate dropped from 103.6 to 103.3. Firms gave more negative opinions about future employment (the related balance lowered from 8.8 to 6.4), while assessments on order books improved (the balance passed from -1.4 to 0.4).

The market service confidence climate rose from 96.0 to 97.9. Respondents expressed greater satisfaction with the current volume of both business activity and order books (the balance of the first variable recovered from 0.9 to 3.8, while the one of the second increased from 1.4 to 4.3). Small positive hints were reported also on the future volume of order books (the related balance went up from 5.2 to 5.4).

The retail trade confidence climate lowered from 102.6 to 101.4. Particularly, compared to the previous month, respondents gave a less favourable assessment on current business activity (the related balance regressed from 10.9 to 7.8). Expectations on the future volume of sales bettered and the level of inventories grew (the balances of the variables varied from 24.2 to 25.3 and from 6.6 to 8.2, respectively).