ROME (dpa-AFX) - Confidence among Italian households worsened further in October to the lowest level in nearly four years, while business confidence remained less pessimistic, survey results from the statistical office Istat showed on Thursday.
Consumer sentiment dropped to 90.3 in September from 91.2 in the previous month. The expected reading was 90.9. Any score below 100 indicates a pessimistic outlook. Moreover, this was the lowest reading since November 2022.
Both the economic and current sentiment weakened from 88.0 to 82.9 and from 90.4 to 88.7, respectively. Meanwhile, the personal climate index rose to 93.0 from 92.4, and the future climate index remained stable at 92.3.
The business confidence index climbed to 96.6 in October from 95.9 in the previous month. Among components, manufacturing confidence held steady at 91.9. The survey revealed that the morale strengthened in construction and market services.
Separate official data showed that the unemployment rate in the country rose to a 16-month high of 6.3 percent in September from 6.2 percent in August. Meanwhile, the employment rate held steady at 63.0 percent.
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