Italy: Economic sentiment records worst reading since November 2023 in August
Economic sentiment fell to 98.9 in August from July’s 100.1. August’s data marked the weakest sentiment since November 2023. 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 weaker consumer and industrial sector sentiment. Moreover, confidence in the retail and construction sectors waned in the surveyed month. On the other hand, confidence in the services sector strengthened in August.
Relating to indicators that are not used to calculate the index, employment expectations were healthier, while the economic uncertainty index decreased in August.