Italy: Economic sentiment picks up in July
Economic sentiment came in at 100.1 in July, up from June’s 99.7. Consequently, the index moved above the long-term average of 100, pointing to a positive near-term outlook for the economy.
The improvement was driven by stronger confidence in the construction sector plus rising industrial and consumer sentiment. On the other hand, confidence in the services and retail sectors waned in July.
Relating to indicators that are not used to calculate the index, employment expectations weakened, while the economic uncertainty index fell in July.