Consumer and business confidence - October 2024

In October 2024, the consumer confidence index shrank from 98.3 to 97.4. Among its components, a slight improvement was observed in the personal confidence climate and in the current one (from 96.3 to 96.6 and from 99.0 to 99.2, respectively), while unfavourable signals came from both economic and future climates (the former index diminished from 103.9 to 99.7, the latter one from 97.4 to 95.0).

With reference to the business confidence climate, the index (IESI, Istat Economic Sentiment Indicator) recorded a decrease passing from 95.6 to 93.4.

The manufacturing confidence climate worsened from 86.6 to 85.8. Particularly, compared to the previous month, assessments on order books were less favourable and also expectations on the future level of production weakened (the related balances regressed from -22.7 to -26.0 and from 1.1 to 0,9, respectively). However, firms indicated a decrease of stock level (the balance of the variable, in fact, lowered from 3.5 to 2.6).

The construction confidence climate bettered from 101.9 to 103.9. Firms gave more optimistic opinions about both future employment (the related balance rose from 5.7 to 8.6) and assessments on order books (the balance passed from -1.8 to -0.7).

The market services confidence climate reduced from 100.4 to 95.3 feeling mainly the effect of a strong pessimism both about the current business trend and the order book volume (the related balances dropped, in fact, from 7.4 to 0.2 and from 8.4 to 1.6, respectively). Expectations on volume of order books also gave less favourable indications (the balance of the variable diminished from 5.7 to 3.4).

The retail trade confidence climate rose from 102.3 to 103.7. In particular, the balances of current and future business activity got up (from 13.4 to 14.2 and from 23.3 to 24.2, respectively), while the one of assessments on inventories reduced from 9.0 to 6.4.