Consumer and business confidence - June 2024

In June 2024, the consumer confidence index increased from 96.4 to 98.3. A significant improvement was observed in the economic confidence climate (from 101.9 to 105.3), while the future one, the current one and, finally, the personal one were also growing (from 95.7 to 98.7, from 97.0 to 98.1 and from 94.4 to 95.8, respectively).

With reference to the business confidence climate, the index (IESI, Istat Economic Sentiment Indicator) weakened from 95.1 to 94.5.

The manufacturing confidence climate worsened from 88.2 to 86.8. In particular, the deterioration was due to decreasing of both assessments on order books and expectations on production (the related balances diminished from -19.7 to -23.3 and from 1.4 to 1.3, respectively). Finally, the level of inventories was indicated to be increasing (the related balance improved, in fact, from 1.8 to 2.5).

The construction confidence climate increased from 101.7 to 104.4. Respondents gave more optimistic opinions both about current order books and future employment (the related balances bettered from -3.6 to -0.7 and from 7.1 to 9.8, respectively).

The market services confidence climate declined from 97.8 to 97.1. Compared to May, more favourable signals came both from assessments on business trend and expectations on order books (the balances of the variables improved from 5.7 to 6.1 and from 4.3 to 5.0, respectively), while assessments on order books got worse from 3.1 to -0.2.

The retail trade confidence climate weakened from 102.8 to 102.2. With regard to its components, both assessments and expectations on business activity deteriorated (the related balances reduced from 11.5 to 9.7 and from 25.5 to 25.1, respectively) and inventories were assessed to be decreasing (the related balance slipped from 7.8 to 7.4).