Figures from the National Institute of Statistics (ISTAT) showed that in March the consumer confidence index fell to 96.5 points from 97.0 points in February. It was the first drop in five months. Economists had expected an increase to 97.5 points. The current and the personal confidence indices worsened from 97.0 to 96.0 and from 95.2 to 94.6 respectively, while the future one and the economic one remained practically unchanged passing from 97.1 to 97.2 the first, and from 102.0 to 101.9, the second.
The data also showed that the economic sentiment indicator rose to 97.0 points from 95.9 points in February. The confidence climate in manufacturing increased to 88.6 from 87.5. The confidence climate in construction rose to 105.8 from 104.3. The market services confidence index rose to 100.7 from 100.2, and the retail trade confidence index rose from 100.8 to 104.6.
Italy's economy has recovered more strongly from a 2020-21 COVID-induced recession than neighbors such as Germany and France, but output slowed sharply last year (+0,9%). According to the forecasts of the European Commission, Italy's GDP will grow by 0.7% in 2024 and by 1.2% in 2025.