29.01.202009:08:00UTC+00Italy's Business Confidence Weakens; Consumer Sentiment Improves

Italy's business confidence deteriorated at the start of the year, while sentiment among consumers rose to a five-month high, survey results from the statistical office Istat showed Wednesday.

The business sentiment index dropped to 99.2 in January from 100.7 a month ago, reflecting weaker confidence in services and retail trade.

Nonetheless, the manufacturing confidence index rose to a six-month high of 99.9 in January from 99.3 in December. In construction, the sentiment index improved to 142.7 from 140.1.

The indicator for services sector dropped to 99.5 from 102.2 and that for retail slid to 106.6 from 110.6.

Further, the survey showed that the consumer confidence index advanced to 111.8 in January from 110.8 a month ago. This was the highest score since August. All components of consumer confidence showed upward trend.