The climate between Italian companies deteriorated in December, as rising coronavirus cases cast doubt on the strength of the economic recovery, but consumer confidence rose slightly.
The Istat statistical service announced that the manufacturing confidence index fell to 115.2 points in December from 115.9 points in the previous month, and was in line with estimates for 115.3 points.
The composite business ethics index fell to 113.1 points in December from 114.8 points in November.
However, consumer confidence rose unexpectedly this month, to 117.7 points from 117.5 points in November, against estimates for 116.2 points.
The consumer climate has probably been boosted by more than € 7 billion in tax cuts set in the government’s 2022 budget.
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Source From: Capital
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