Italy’s consumer confidence strengthened unexpectedly in September to the strongest level in twenty months, while business confidence improved for the second straight month, survey data from the statistical office Istat showed Wednesday.
The consumer confidence index climbed to 115.5 in September from 111.2 in August, which was revised up from 110.8. Economists had expected the index to drop slightly to 110.6.
Moreover, the latest reading was the highest since January 2016, when it marked 118.3.
All components of the consumer confidence climate registered increases in September.
Data also showed that the composite business confidence index improved to 108.0 in September from 107.1 in the preceding month.
Among sub-indexes, manufacturing confidence rose from 108.5 to 110.4. The morale also strengthened in construction and retail trade, while market services index remained stable.
Source: RTT News