ROME: Italy’s consumer confidence strengthened unexpectedly in October to the strongest level in nearly two years, while business confidence improved for the third straight month, survey data from the statistical office Istat showed Thursday. The consumer confidence index rose slightly to 116.1 in October from 115.6 in September. Meanwhile, economists had expected the index to fall to 114.9. Moreover, the latest reading was the highest since January 2016, when it marked 118.3.
Consumers’ judgments and expectations about their personal situation improved in October. Data also showed that the composite business confidence index climbed to 109.1 in October from 108.1 in September. Among components, manufacturing confidence increased from 110.5 to 111.0. The morale also strengthened in retail trade and market services, while confidence weakened in construction sector.
