Italian consumer sentiment index worsens in November, business confidence climate deteriorates

Italian consumer confidence index deteriorated further in November. The sentiment index fell to 114.8 from 116.5 in the prior month. Looking at the individual components, the economic component dropped to 131.7 from 137.2. The current and future components fell to 111.5 and 118.9, respectively. The personal component rebounded a bit, rising to 108.9.

The balance about expectations on unemployment rose to 22.5 from 13.4, while both the one about perceptions on inflation for the last 12 months and the one regarding expectations on inflation for the next 12 months lowered to -4.6 from -1.3 the former, and from -0.8 to -2.2, the latter, showed Istat.

Meanwhile, the business sentiment climate index also deteriorated in the month, falling to 101.1 from 102.5. The sentiment index in manufacturing declined to 104.4. Production expectations weakened, while assessments on order books and the balance on inventories remained considerably unchanged.

The confidence index in construction fell to 132.5 from 138.9. Assessments on order books/construction plans and employment expectations deteriorated in the month. The market services confidence index dropped to 101.8. All the index components changed for the worse: the balances about assessments and expectations on order books dropped to 5.7 and to 3.7, respectively and assessments on business trend lowered.

The retail trade sentiment index rose a bit to 102. The assessments on current sales bettered, while the expectations on future sales deteriorated. The assessments about volume of stocks dropped to 10.5 from 14.4.

At 16:00 GMT the FxWirePro's Hourly Strength Index of Euro was highly bearish at -127.455, while the FxWirePro's Hourly Strength Index of US Dollar was highly bullish at 107.971. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex