Italian business and consumer confidence fell in September

Key facts

• Italian consumer confidence fell to 91.2 in September from 94.5 in August.
• The composite business morale index decreased to 95.9 in September from 97.0 in August.
• The manufacturing sub-index rose to 91.9 in September from 90.2 in August.
• The Thomson Reuters IPSOS PCSI fell to 42.97 in September from 44.33 in August.

Italian business and consumer confidence declined in September, according to data released by the national statistics institute ISTAT. The consumer confidence index dropped to 91.2 from 94.5 in August, missing analysts' median forecast of 94.0. The composite business morale index, which combines surveys from manufacturing, retail, construction, and services sectors, slipped to 95.9 from a revised 97.0 in August. However, the manufacturing sub-index showed improvement, rising to 91.9 from 90.2 in the previous month, exceeding the median forecast of 90.5. Another indicator, the Thomson Reuters IPSOS PCSI, fell to 42.97 in September from 44.33 in August, signaling a continued deterioration in household economic confidence and potentially dampening consumer spending intent.