Italian confidence hits new lows

Consumer confidence slid in September on the back of widespread pessimism focused on the economic situation, Italy’s official statistics agency Istat revealed yesterday. The indicator fell to 98.5, compared with 100.3 in August and 106.4 back in May. Sentiment with regard to the future declined from 87.5 to 87.2, whilst the “economic climate” measure fell from 70 to 67.8. The only measures showing any improvement in sentiment were “saving’s future possibility”, rising from -72 to -63 from last month, and “forecasts on unemployment” which increased from 86 to 88.