Consumer and business confidence - July 2026

In July, the consumer confidence index rose from 92.4 to 94.2. The increase was widespread across all components, though it was particularly strong in the economic climate. Compared to the previous survey, in fact, the economic climate index grew from 87.6 to 90.9, the personal one rose from 94.2 to 95.4, the current one progressed from 96.2 to 97.4 and, finally, the future one increased from 87.4 to 89.8.

Regarding the business confidence climate, the index (IESI, Istat Economic Sentiment Indicator) increased from 95.3 to 95.6. 

The manufacturing confidence climate improved from 88.6 to 89.6. Both opinions on order books and expectations on production bettered, while inventories were considered to have built up (the balances of the variables varied from -19.3 to -16.5, from 1.8 to 3.5 and, finally, from 1.4 to 2.7, respectively).

The construction confidence climate worsened from 101.6 to 96.8. The decline was due to a more pessimistic outlook regarding both employment expectations and order books assessments (the balances for the variables worsened from 6.5 to 2.8 and from -3.0 to -9.1, respectively).

The market service confidence climate improved from 97.2 to 98.1. Firms gave more negative opinions about future volume of order books (the related balance declined from 7.3 to 5.3) but expressed greater satisfaction with the current volume of both order books and business trend (the respective balances increased from 0.7 to 3.0 and from 3.2 to 6.0, respectively).

The retail trade confidence climate increased further, passing from 105.6 to 106.4. The improvement characterized mainly the expectations on future business activity, whereas opinions on current sales worsened (the balances of the variables varied from 18.5 to 31.3 and from 23.3 to 16.9, respectively). Finally, inventories were considered to have built up (the related balance rose from 3.8 to 7.4).