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Italy's consumer confidence worsened more than expected in April to the lowest level in one and a half years, while?composite?business?confidence declined for the third straight month, survey data from the statistical office Istat showed on Tuesday.
Consumer sentiment dropped to 92.7 in April from 95.0 in the previous month. Further, this was the lowest score since October 2023, when it was 91.1.
Among components, the personal climate index worsened to 93.0 in April from 95.7 in March, and the future climate decreased to 89.1 from 91.1. Similarly, the index measuring the current climate declined to 95.4 from 97.9, and the economic climate index weakened from 93.2 to 89.6.
The data also showed that the composite business confidence index dropped to 91.5 in April from 93.2 in March.
The manufacturing index decreased slightly to 85.7 from 860 in March as expectations on production worsened.
The morale also weakened in market services, mainly influenced by the collapse in the tourism sector. The confidence in the construction sector also remained weak.
The case was not different in retail trade, and the drop in confidence was due to the opinions on sales and warehouse stocks judged to be accumulating, the survey said.
