Italy: Economic sentiment records worst reading since October 2022 in September
Economic sentiment came in at 97.9 in September, down from August’s 100.1. September’s result marked the worst performance since October 2022. As a result, the index dipped below the long-term average of 100, pointing to a muted near-term outlook for the economy.
The headline print reflected declining sentiment in the industrial sector and healthier sentiment in the construction sector. Meanwhile, confidence in the services sector softened in September, while sentiment in the retail sector improved in the surveyed month. Finally, consumer confidence weakened in September.
Relating to indicators that are not used to calculate the index, employment expectations improved, while the economic uncertainty index rose in September.