Italy business morale rises to almost 2-year high in December
ROME, Dec 19 (Reuters) - Italian consumer and business morale rose in December, data showed on Friday, offering some prospect of firmer growth for the euro zone’s third largest economy.
National statistics institute ISTAT’s consumer confidence index rebounded to 96.6 from 95.0 the previous month, above the median forecast of 96.0 in a Reuters’ poll of six analysts.
The composite business morale index, combining surveys of the manufacturing, retail, construction and services sectors, edged up to 96.5 this month, the highest level since March 2024, from 96.1 in November.
The sub-index for manufacturing, however, fell to 88.4, below a forecast of 89.3 in Reuters’ survey.
The improved business and consumer sentiment came against a background of economic weakness in Italy.
ISTAT this month forecast that the Italian economy would grow by 0.5% this year, trimming a previous estimate of 0.6% made in June.
The Italian government’s most recent target, made in October, also envisaged growth of 0.5% this year, down from 0.7%in 2024.
In the third quarter, gross domestic product increased by a marginal 0.1%, following a 0.1% contraction in the previous three months.
