Italy consumer confidence recovers in May but business morale slides

ROME, May 28 (Reuters) - ‌Morale ​among ​Italian consumers recovered against expectations in May after recent declines, but ‌business morale fell to an 8-month ⁠low, data showed on Thursday, in mixed signs ‌for the euro zone's ‌third largest economy.

National statistics institute ISTAT's consumer confidence index rose to 93.4 ​from 90.8 the previous month, well above a median forecast of 90.1 ⁠in a Reuters' poll of eight analysts.

The composite business ​morale index, combining surveys of the manufacturing, retail, construction and services sectors, ​decreased to 94.1 from ‌95.1 in April, posting its lowest level since September last ⁠year.

The sub-index for manufacturing was stable at 87.9, ISTAT said.

Giorgia Meloni's government last month ⁠cut its economic growth outlook to 0.6% for ​this year and next, reflecting surging energy prices and turmoil in the Middle East, from previous ‌targets of 0.7% and 0.8% respectively.

The government forecast a 0.8% ‌growth rate for 2028, which would ⁠mark six consecutive ‌years of sub-1% ​growth.

(Reporting by Antonella Cinelli, graphic by Stefano Bernabei, editing by Gavin ‌Jones)

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