World Economy

Italy CCI Falls

Italy CCI FallsItaly CCI Falls

Italy’s consumer confidence weakened unexpectedly in April, while business sentiment improved, the statistical office ISTAT said Wednesday, Nasdaq reported. The consumer confidence index fell to 114.2 in April from 114.9 in the previous month. Economists had expected the index to climb slightly to 115.0. The balance concerning expectations on unemployment increased from 12 to 21 over the past month, while inflation expectations for the next 12 months lowered from -30 to -33. At the same time, the confidence index in manufacturing rose to 102.7 in April from 102.2 in March. In contrast, it was expected to fall to 102.0. Production expectations improved in April, while assessments on order books worsened and inventories remained stable. The overall economic sentiment index climbed from 100.2 in March to 102.7 in April. Meanwhile, the total amount spent online by Italian shoppers in 2015 grew by 16% year on year to reach €16.6 billion ($18.78 billion), according to the latest B2C e-commerce update from the Italian Consortium of Electronic Commerce and the School of Management at the Milan Polytechnic.