RTTNews - Italian manufacturers and service providers showed increased confidence about the economy in May on expectations that worst of the recession may be over. However, retailers' sentiment dropped on concerns about the current and expected sales.
According to the latest set of economic tendency surveys carried out by the ISAE, manufacturing confidence indicator rose to 68.7 in May from 65.5 in April, the highest since December 2008. It also marked the second rise after seven consecutive declines.
The think tank said the increase was mainly due to improved expectations of production and slight increase in expectations regarding orders and demand in general.
The ISAE said respondents expressed positive assessment regarding the trend of the economy and employment for the next three months.
A survey conducted among 2,000 service providing firms revealed that confidence in the sector climbed to minus 7 in May from minus 19 in April on expectations that orders and the economy as a whole will recover.
Moreover, the seasonally adjusted indicator for retailers' confidence stood at 94.6, down from the previous month's 95.4.
A survey for the country's construction sector revealed that the sentiment indicator fell to 71.3 in April from 73.1 in March. The ISAE said confidence deteriorated mainly due to the worsening employment outlook.
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