Retail

Italy's consumer confidence soars in June 2023: Istat

28 Jun '23

2 min read

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Insights

Italy's consumer confidence index rose to 108.6 in June 2023, according to Istat, due to positive trends across all components.
However, the Istat Economic Sentiment Indicator slightly declined to 108.3.
The manufacturing sector saw a dip.
The country's retail trade confidence index also witnessed a slight decrease, from 111.4 to 110.5, in June 2023.

In June 2023, Italy’s consumer confidence index rose from 105.1 to 108.6, according to Italian National Institute of Statistics (Istat). The improvement was due to the positive trend of all its components. The economic climate saw a significant increase from 119.8 to 127.6. The current and personal components also improved, rising from 100.0 to 102.0 and 100.1 to 102.2, respectively. Lastly, the future component showed optimism with a rise from 112.6 to 118.4.

With reference to the business confidence climate, the Istat Economic Sentiment Indicator (IESI) weakened from 108.6 to 108.3.

The confidence climate in manufacturing slipped from 101.2 to 100.3. Both expectations on production and assessments on order books showed a worsening (the related balances of variables passed from 4.1 to 3.6 and from minus 10.8 to minus 12.8, respectively), while a slight increase was reported in the level of inventories (the balance of the variable passed from 4.6 to 4.8), as per Istat.

The retail trade confidence index extended its downward path varying from 111.4 to 110.5. Negative developments were due to the worsening in business activity assessments, while the view on future sales improved and level of inventories lowered. The related balances moved from 26.2 to 19.2, from 23 to 25.4 and from 7.1 to 5.4, respectively.

Fibre2Fashion News Desk (DP)

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