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Italy consumer confidence falls to 28-month low

Staff Writer |
Italy's consumer confidence weakened in May to the lowest level in nearly two-and-a-half years, survey figures from the statistical office Istat showed Friday.

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The consumer confidence index fell to 105.4 in May from 107.4 in April. Economist had expected the index to drop marginally to 107.3.

Moreover, the latest reading was the lowest since January 2015, when it marked 100.9.

All components of the climate of consumer confidence showed a decline in May. The opinions about the economic situation of the country remained stable, while expectations worsened.

Data also revealed that the composite business confidence index dropped to 106.2 in May from 106.8 in the prior month.

Among components, the confidence index in manufacturing worsened to 106.9 in May from 107.7 in April. Similarly, index measuring confidence in the market services declined from 107.2 to 105.5.

At the same time, the retail trade confidence improved in May and the morale for the construction sector remained broadly unchanged.

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