Italian consumer confidence reaches highest level in a year
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Consumer confidence in Italy reached its highest level in more than a year in April, the government's statistical institute ISTAT reported.
ISTAT said its consumer confidence index rose for the third consecutive month in April, climbing to 105.5 from 105.1 a month earlier, reports Xinhua news agency.
This is the highest level since March 2022.
"The positive trend in the index reflects the improvement in assessments of the general and current economic situation," ISTAT said.
However, improvements in personal economic situations have been less robust, it added.
Business confidence also climbed in April, rising to 110.5 from 110.1, but the components of that survey were mixed.
Although respondents noted an improvement in the current economic climate, there was also a drop in confidence about future economic circumstances.
The current business confidence figure is on a par with the level recorded in July 2022.
Among specific economic sectors, market services improved in April due to an improvement in the tourism sector, while the construction sector also saw gains.
The manufacturing and retail trade sectors, however, saw declines.
These indicators are a key factor in helping predict spending patterns in an economy.
Both indicators are based on a 100-point baseline from 2010, adjusted upward or downward based on the responses to an ISTAT survey.
