Italy business morale rises to almost 2-year high in December

ROME, Dec 19 (Reuters) - ⁠Italian consumer ⁠and ‍business morale rose in December, data showed on Friday, offering some prospect ‍of firmer growth for the euro zone's ​third largest economy.

National statistics institute ISTAT's consumer confidence index ​rebounded to 96.6 from 95.0 the previous month, above the median forecast of 96.0 in a Reuters' poll of ​six analysts.

The composite business morale index, combining surveys of the manufacturing, retail, construction ​and services sectors, edged up to 96.5 this month, the highest ‌level since March 2024, from 96.1 in November.

The sub-index for manufacturing, however, fell ​to 88.4, below a ⁠forecast of 89.3 in Reuters' survey.

The improved business and consumer sentiment came ‌against a background of economic weakness in Italy.

ISTAT this month forecast that the Italian economy would ‌grow by 0.5% this year, trimming a previous estimate of ‌0.6% made in June.

The Italian government's most recent target, made in October, also envisaged growth of 0.5% this ‍year, down from 0.7%in 2024.

In the third quarter, 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 and Alvise Armellini)

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