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Italy consumer confidence suddenly up, business confidence down

Staff Writer |
Italy's consumer confidence improved unexpectedly in July, while business confidence weakened, survey data from the statistical office Istat showed.

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The consumer confidence index rose to 106.7 in July from 106.4 in the previous month. In contrast, economists had expected the index to fall slightly to 106.3.

The personal, current and future components grew in July, while the economic component worsened.

Data also showed that the composite business confidence index fell to 105.5 in July from 106.3 in June.

Among components, manufacturing confidence strengthened to 107.7 in July from 107.3 in the prior month.

The morale improved in construction and retail trade, while it weakened in market services.

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