Business confidence in Italy, June 2022

Business confidence stood at 113.6 in June from 110.0 in May, indicating an improvement in business sentiment.

The growth was driven by increased optimism among companies across all sectors, with a particularly sharp rise in the services sector.

Paolo Pizzoli of ING said:

“[…] Services seem to be almost unaffected by recent developments. Services confidence rose more than five points on the month, supported by strong growth in the transportation services component. As trust in tourism services has confirmed recent gains, it appears that the reopening effect is still in play. Interestingly, the orders component also improved from the month, indicating a continuation of the pattern.”

FocusEconomics Consensus Forecast forecast fixed investment to rise 4.9% in 2022, down 0.1 percentage point from last month’s estimate. The Group expects fixed investment to increase by 3.5% in 2023.