Rome, Italy (4E) – Confidence among Italian businesses climbed for the third consecutive month in April to remain at its highest level in almost three years, according to statistical office ISTAT’s report released on Tuesday.
The manufacturing confidence index in April inched up to 99.9 from the previous month’s level of 99.3. The reading was higher than economists’ estimate of 99.5.
April’s reading is the highest level since June 2011, when it stood at 100.9. Manufacturers’ outlook on order books continued its rise, while inventories and production expectations stayed flat, according to the survey.
Construction sector confidence continued to decline in April and the indicator fell to 74.8 from 75.6 in the previous month. The view on order books and construction plans improved, but outlook on employment fell.
The index for overall business confidence dropped to 88.8 in April from 89.5 in the prior month.