ROME (Reuters) -Italian consumer morale fell by more than expected in August whereas businesses sentiment was stable, data showed on Thursday, in mixed signs for the euro zone’s third-largest economy.
National statistics institute ISTAT’s consumer confidence index fell in August to 96.2 from 97.2 in the previous month. The figure was below a median forecast of 96.6 in a Reuters’ poll of six analysts.
Composite business morale index, which combines surveys of the manufacturing, retail, construction and services sectors, was unchanged in August at 93.6.
A morale improvement in services offset a deterioration in the other sectors, including for the manufacturing sub-index that fell to 87.4 from a previous 87.8, slightly above a median forecast of 87.2.
The Italian economy shrank unexpectedly 0.1% in the second quarter from the previous three months, according to preliminary data. ISTAT is due to release a numerical breakdown of GDP components on Friday.
Prime Minister Giorgia Meloni’s government in April halved its 2025 growth forecast to 0.6% from a 1.2% target set in September 2024, amid mounting uncertainty due to U.S. tariff policies.
(Reporting by Antonella Cinelli, graphic by Stefano Bernabei, editing by Alvise Armellini)
Comments