Italy manufacturing business confidence drops in July to 99.7

Nathan Andrada – Fourth Estate Cooperative Contributor

Rome, Italy (4E) – Manufacturing business confidence in Italy declined for the second straight month in July, hit by a falling outlook for orders, according to a report by statistics institute Istat released Monday.

Confidence among Italian manufacturers fell to 99.7 in July from the prior month, the Istat monthly survey showed. The figure in June was revised down to 99.9 from a previous estimate of 100.0.

Istat said that the outlook for orders worsened, while the outlook for inventories remained flat, and outlook for output increased, resulting to the small drop.

The composite business confidence index, a broader gauge of Italy’s construction, market-services and retail sectors, climbed to 90.9, boosted by gains in the construction sector, which had been slowing in recent months, as well as market services and retail, Istat said.

The index for the construction sector jumped 83.2 in July from 81.6 in June.

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