The business confidence climate index was 75,4 in June and was substantially stable compared to the previous month (75,5). This was revealed by Istat which, for the first time, has released a composite index of the confidence climate of Italian businesses, obtained by aggregating the indices relating to manufacturing, construction, services and retail trade businesses.
Seasonally adjusted manufacturing confidence index rises to 88,9 from 86,6 the previous month. Opinions on orders and production expectations of manufacturing firms improve; the balance relating to assessments on inventories shows a decrease. On the basis of the usual quarterly questions on the activity of exporting manufacturing companies, both assessments and expectations on export turnover worsen in the second quarter.
The seasonally adjusted index of the confidence climate of construction companies increases significantly (from 82,2 to 85,6). The seasonally adjusted index of business confidence in services decreases, while that of retail trade increases. In particular, the index falls from 72,7 to 70,7 in market services and rises from 76,2 to 82,4 in retail trade. In services, assessments on orders improve, but expectations relating to the same variable worsen; the balance of expectations on the economy in general continues to decline.
