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Italy's consumer confidence index declines in October 2023

30 Oct '23

2 min read

Pic: Adobe Stock/maniacvector

Insights

In October 2023, Italy saw a decline in various economic indicators.
The consumer confidence index dropped from 105.4 to 101.6, with all its components showing a decrease.
The economic sentiment indicator went down from 104.9 to 103.9.
The manufacturing sector exhibited more concerns about current orders; a minor recovery in production is anticipated.

In October 2023, Italy’s consumer confidence index reduced from 105.4 to 101.6. A drop characterised all its components—the future climate worsened from 113.2 to 107.7, the economic one from 115.2 to 110.5, the personal one from 102.2 to 98.6 and, finally, the current one from 100.2 to 97.4.

With reference to the business confidence climate, the index or the Italian National Institute of Statistics (ISTAT) Economic Sentiment Indicator (IESI) confirmed its decrease, moving down from 104.9 to 103.9, ISTAT said in a press release.

The confidence climate in manufacturing regressed from 96.4 to 96.0. On the whole, firms showed more concern about current order books (the related balance passed from -19.4 to -21.2), but predicted a slight recovery for production (the balance moved up from 0.3 to 0.6). At the same time, the level of inventories varied from 6.0 to 5.5.

The retail trade confidence index extended its downward path passing from 107.1 to 106.0. Particularly, compared to the previous month, assessments on current business conditions showed a slight improvement, while expectations on future sales worsened (the first balance passed from 16.1 to 16.9, the second one diminished from 21.3 to 18.7). Lastly, inventories were considered to have built up; the related balance increased from 8.4 to 10.1.

Fibre2Fashion News Desk (NB)

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