Economy News

Italy's consumer, business confidence drops in August

Source: Xinhua | 2018-08-29

The confidence climate among Italian consumers and businesses dropped in August against the previous month, the National Institute of Statistics (ISTAT) estimated on Tuesday.

The consumer confidence index decreased to 115.2 points in August from 116.2 in July. The drop was especially linked to the deterioration in the economic component, which declined to 136.6 points from 141.3, the agency said in its report.

However, expectations on unemployment among Italian consumers grew to 24.1 points from 12.9 points.

As for the business climate, the composite confidence index dropped to 103.8 points in August from 105.3 in July, according to ISTAT.

"In the productive sectors -- beside a decline registered in manufacturing -- it should be noted that the confidence index in the service sector, down from July, is below the average level of the last semester 2017, although maintaining at a historically high level," the statistical office said.

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