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July 24, 2020 In July 2020, a slight drop in consumer sentiment is estimated, compared to June 2020 (from 100.7 to 100.0); on the other hand, the composite index of business confidence rose for the second consecutive month, from 66.2 to 76.7. Istat notes this. The Institute explains that the economic and future components of consumer sentiment are decreasing (from 87.1 to 85.7 and from 105.6 to 104.2 respectively), while both the personal component grows (from 104, 5 to 105.2) and the current one (from 96.4 to 97.3).

With reference to businesses, Istat's estimates show an increase in confidence spread to all sectors albeit with different intensities. In particular, in industry the confidence index of the manufacturing sector rose from 80.2 to 85.2 and in construction it increased from 124.0 to 129.7. For the services sector, there was a marked rise in the index both in market services (from 52.1 to 65.8) and in retail trade (the index rose from 79.6 to 86.3).

The Institute of Statistics also notes that as regards the components of the confidence index, both the judgments on orders and production expectations improve in the manufacturing industry. Stocks of finished products are expected to decrease compared to last month. For construction, the increase in the index is driven by a marked improvement in the judgments on orders, combined with a worsening of expectations on employment at the company. 

In market services and retail trade, Istat continues, all components of the index improve; in particular, in services, the marked recovery of judgments and expectations on orders and in trade, the marked increase in both judgments and sales expectations.

In the data collection phase, carried out between 1 and 17 July 2020, there was no reduction in the response rate of companies due to the health emergency. In processing the data, however, actions were taken to adequately manage the exceptional variations present in this period, Istat concludes.

In July 2020 consumer confidence from 100.7 to 100.0; business confidence from 66.2 to 76.7 #istat https://t.co/FKaOPvkujp pic.twitter.com/bBdcuQqYEF

- Istat (@istat_it) July 24, 2020