Italian Business and Consumer Confidence Decline in September
ISTAT reports a drop in Italian consumer and business confidence for September, though manufacturing morale showed unexpected growth.
The national statistics institute ISTAT reported a decline in both business and consumer confidence in Italy for September, indicating a negative outlook for the third-largest economy in the euro zone.
Consumer confidence fell to 91.2 from 94.5 in August, failing to meet analyst expectations of 94.0. Similarly, the composite business morale index, which tracks the services, construction, retail, and manufacturing sectors, dropped to 95.9 from a revised August figure of 97.0.
Manufacturing provided a rare point of growth amid the broader downturn. The manufacturing sub-index rose to 91.9 from 90.2, surpassing the median forecast of 90.5.
