ROME, Aug 28 (Reuters) – Italian business and consumer confidence rose in August, data showed on Friday, in a positive sign for the prospects of the euro zone’s third largest economy.
• National statistics institute ISTAT’s consumer confidence index edged up to 94.5 from 94.2 the previous month, a second consecutive increase but missing a median forecast of 95.0 in a Reuters’ poll of seven analysts.
• ISTAT’s composite business morale index, combining surveys of the manufacturing, retail, construction and services sectors, rose for a third month to 96.9 from 95.7 in July.
• The sub-index for manufacturing edged up to 89.9, just below a median forecast of 90.0, from 89.7 in July.
• Giorgia Meloni’s government in April cut its economic growth outlook to 0.6% for this year and next, reflecting surging energy prices and turmoil in the Middle East, from previous targets of 0.7% and 0.8% respectively.
• However, gross domestic product data in the first and second quarters came in stronger than expected, suggesting some economic resilience to the Middle-East crisis.
• The government forecast a 0.8% growth rate for 2028, which would mark six consecutive years of sub-1% growth
(Reporting by Antonella Cinelli, graphic by Stefano Bernabei, editing by Gavin Jones)
Comments