FX.co ★ Italy Consumer Confidence Weakens, Business Morale At 3-Month High

Italy experienced a further decline in consumer confidence in December, reaching its lowest point in eight months, according to survey data released by the statistical office Istat. Conversely, the composite business confidence index saw an increase for the first time in three months.

Consumer sentiment dropped slightly to 96.3 in December, down from 96.6 in November, contrary to expectations of a score of 97.0. The survey highlighted a noticeable decline in consumer outlook concerning the country's economic future and unemployment trends.

Specifically, the economic climate index fell to 96.1 from November's 97.8, with the future climate index also declining from 93.8 to 93.3. Conversely, the personal climate index experienced a slight rise to 96.4 from 96.2, and the current climate index remained relatively stable, marginally decreasing from 98.7 to 98.6.

Notably, the composite business confidence index increased to 95.3 in December, achieving a three-month high from November's 93.2. This improvement was primarily driven by the market services sector, where confidence surged to 99.6 from 93.6. The retail sector witnessed a modest improvement, while manufacturing confidence experienced a downturn, dropping to 85.8 from 86.5.