Italy´s manufacturing confidence index fell to 106 in April 2019 from 100.8 in the previous month and below market expectations of 100.7. It was the lowest reading since February 2015, mostly due to a deterioration in both order levels (-11.8 from -11.1 in March) and inventories (4.3 from 4.9). Also, expectations regarding future production weakened (3.2 from 3.4). Italy's composite business morale index, combining surveys of the manufacturing, retail, construction and services sectors, dropped to 98.7 in April from a downwardly revised 99.1 in March. Business Confidence in Italy averaged 102.29 Index Points from 1991 until 2019, reaching an all time high of 121.52 Index Points in February of 1995 and a record low of 71.60 Index Points in March of 2009.
Business Confidence in Italy is expected to be 98.00 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Confidence in Italy to stand at 102.00 in 12 months time. In the long-term, the Italy Business Confidence is projected to trend around 104.00 Index Points in 2020, according to our econometric models.