Consumer and business confidence - October 2025

In October 2025, the consumer confidence index rose from 96.8 to 97.6. An increase characterized all its components: the future climate improved from 92.6 to 94.1, the personal one from 96.0 to 97.0, the economic one from 98.8 to 99.3, and, finally, the current one from 99.9 to 100.2.  

With regard to the business confidence climate, the index (IESI, Istat Economic Sentiment Indicator)increased (from 93.7 to 94.3).

The manufacturing confidence climate improved from 87.4 to 88.3. Among confidence-building variables, a recover was observed in both assessments on order books and expectations on production, while level of inventories was judged to be decreasing (the related balances changed from -19.7 to -19.2, from -0.1 to 1.9 and, finally, from 2.7 to 2.3, respectively).

The construction confidence climate increased from 101.6 to 103.3. The positive development was due to improvements in both assessments on order book volume and, more markedly, expectations on future employment (the related balances passed from -3.7 to -2.3 and from 7.0 to 9.0, respectively).

The market service confidence climate worsened from 95.6 to 95.0. Respondents were more optimistic about the future level of order books while some concerns stemmed from assessments on both business trend and order book level (the corresponding balances varied from 6.2 to 7.1, from 0.2 to -1.2 and from   -0.2 to -1.6).

The retail trade confidence climate grew from 101.8 to 105.0. The new confidence improvement was due, in particular, to the rise in expected volume of sales, to the growing assessments on current business trend and, finally, to the stock reduction (the related balances changed in fact from 27.3 to 28.3, from 8.1 to 14.5 and, finally, from 9.5 to 6.8, respectively).