Italy's business and consumer confidence at odds, provide little clarity on prospects for economic growth

Italy's statistics office ISTAT released businesses and consumer confidence data for the month of December earlier on Wednesday. Data showed that confidence among Italian businesses and consumers moved in different directions in December, providing little clarity on the prospects for the country’s fragile economic growth.

ISTAT survey showed Italy confidence climate index grew in December to 111.1 from 108.1 in the previous month. Details of the report showed improvement in all components of the index. The composite business confidence climate index (IESI, Istat Economic Sentiment Indicator) however decreased from 101.4 to 100.3 in contardiction to the consumer confidence.

The balance concerning expectations on unemployment lowered from 28 to 20. The balance on inflation perceptions referring to the last 12 months and on inflation expectations for next 12 months decreased from -34 to -36 and from -28 to -34 respectively.

The confidence index in manufacturing increased from 102.2 to 103.5. The confidence index in construction decreased from 124.2 to 120.4. The market services confidence index decreased from 105.0 to 102.5. The retail trade confidence index increased from 106.5 to 107.4.