ROME (dpa-AFX) - Confidence among Italian households remained less pessimistic in July, and business confidence also showed some resilience, survey results from the statistical office Istat showed on Friday.
Consumer sentiment rose to a 5-month high of 94.2 in July from 92.4 in the previous month. The expected reading was 92.5. Nonetheless, a score below 100 indicates a pessimistic outlook.
Among components, both the economic and future sentiment improved from 87.6 to 90.9 and from 87.4 to 89.8, respectively. Similarly, the personal climate index improved to 95.4 from 94.2, and the current conditions index increased to 96.2 from 98.0.
The composite business confidence indicator rose to 95.6 in July from 95.3 a month ago.
Confidence among manufacturers improved, and the corresponding indicator increased to 89.6 from 88.6 as assessments of orders and expectations for the level of production are improving amid inventory buildup.
The confidence in the market services improved to 98.1 from 97.2 amid a positive trend in assessments regarding both the level of orders and business performance. Meanwhile, the morale for the construction sector dropped to 96.8 from 101.6.
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