Italian business morale rises to two-year high in January
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Shoppers walk along a shopping street ahead of Christmas in Rome, Italy, December 23, 2022. REUTERS/Guglielmo Mangiapane
ROME, Jan 28 (Reuters) - Italian business morale touched a two-year high in January and consumer confidence also rose, data showed on Wednesday, offering some prospect of firmer growth for the euro zone's third-largest economy.
National statistics institute ISTAT's composite business morale index, combining surveys of the manufacturing, retail, construction and services sectors, increased to 97.6 this month, the highest level since January 2024, from 96.6 in December.
The sub-index for manufacturing rose to 89.2, above a forecast of 89.0 in Reuters' survey of six analysts.
The consumer confidence index edged up to 96.8 from 96.6 the previous month, ISTAT said, below a median forecast of 97.0 in Reuters' poll.
The improved business and consumer sentiment came against a background of economic weakness in Italy.
Italy's government set a full-year growth target of 0.5% for 2025 and 0.7% for this year, among the lowest rates in Europe.
In the third quarter last year, gross domestic product increased by a marginal 0.1%, following a 0.1% contraction in the previous three months.
(Reporting by Antonella Cinelli, graphic by Stefano Bernabei, editing by Gavin Jones, Keith Weir)
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