Italy’s economic data released Friday pointed to softening momentum, with industrial sales falling 1% month-on-month in June and business confidence slipping to 89.9 in August. The industrial sales decline reversed a revised 0.6% rise in May, according to BitcoinWorld, and raised concerns about manufacturing demand in the eurozone’s third-largest economy.
ISTAT reported that the business confidence index fell 0.4 points from July’s revised 90.3, missing the 90.0 forecast. The deterioration was driven by weaker order books and less optimistic production expectations in manufacturing, while construction showed a slight improvement amid public infrastructure spending. Services remained relatively resilient, supported by tourism and digital services.
The data adds to a mixed eurozone picture, with Germany’s Ifo index also softening in August. Analysts suggest this could reinforce expectations for further European Central Bank rate cuts later this year. For Italy, the readings may increase pressure to accelerate EU recovery fund spending. Although the figures signal caution, they remain above crisis levels and do not indicate an imminent recession.
