Italy's economic climate sees slight dip in May 2023

29 May '23

1 min read

Pic: Shutterstock

Insights

Italy saw a dip in its consumer confidence index from 105.5 to 105.1 in May.
The economic climate showed a minor rise, but other components slipped.
Istat's Economic Sentiment Indicator also declined, signifying a pessimistic outlook from businesses.
Manufacturing and retail sectors experienced decreased confidence, with concerns about business trends.

Italy’s consumer confidence index took a minor dip this month, sliding from 105.5 to 105.1, according to Istat. The economic climate remained the only positive amongst its components, rising from 119.0 to 119.8. Other components, however, exhibited a decline, with the current climate, future climate, and personal climate falling to 100.0, 112.6, and 100.1 respectively.

The Istat Economic Sentiment Indicator (IESI), indicating the business confidence climate, also showed a decrease from 110.4 to 108.7. This indicates a somewhat pessimistic view of the economy from the business community.

Manufacturing did not escape the overall trend, with confidence falling from 102.8 to 101.4. Both expectations for production and assessments of order books exhibited a decline, as the related balances moved from 6.1 to 4.3 and from -8.6 to -10.6, respectively. A minor increase was noted in the inventory volume, with its balance moving from 4.3 to 4.6.

Retail trade’s confidence index marginally dropped from 112.9 to 111.6. Firms expressed concerns about both current and future business trends. The balance of assessments on current sales dropped from 29.5 to 27.1, and expectations on future volume of sales slid from 23.2 to 22.8. Meanwhile, inventories increased, with the related balance varying from 6.2 to 7.2.

Fibre2Fashion News Desk (KD)

More Textiles News - Italy...