Italy’s consumer confidence strengthened unexpectedly at the start of the year, while business sentiment decreased more-than-expected, the statistical office ISTAT reported Wednesday.
The consumer confidence index climbed to 118.9 in January from 117.7 in December. Economists had forecast the index to fall to 117.0.
Consumer confidence was the highest in more than three years.
At the same time, the manufacturing confidence index weakened to 103.2 in January from 104.0 in the preceding month. It was expected to fall slightly to 103.8. The sub-index measuring opinions on orders fell to -13 from -11 and the morale for expected activity dropped to 11 from 12.
The overall economic sentiment index also worsened to 101.5 in January from 105.6 in the previous month.
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