Businesses, confidence declined for the fourth consecutive month. Consumer confidence at its lowest since 2013

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Confidence still declining for consumers and businesses in October. Istat estimates a decline in the consumer confidence climate index from 94.8 to 90.1, with a negative trend for the second consecutive month, touching the lowest level since May 2013. The composite index of the business confidence which decreased for the fourth consecutive month, going from 105.1 to 104.5.

The confidence climate worsens in all sectors (in the manufacturing sector the index went from 101.2 to 100.4, in construction from 159.5 to 157.5 and in retail trade from 110.5 to 108.7) with the exception of market services where the index remains substantially stable, passing from 95.8 to 95.9.

Istat adds that considering the components of the business confidence climate, in the manufacturing sector there is a worsening of assessments on demand and an increase in stocks of finished products, while expectations on production are slightly improving.

In construction there is a worsening of the opinions on orders while the expectations on employment at the company are increasing. In the comment, Istat adds that after the marked growth recorded in 2021, the index underwent a downsizing last January, entering a period of stagnation until June. A new downturn has begun since July 2022.