Italian business confidence has leaped to its highest level since July 2008 this month, Istat said on Monday. The national statistics agency said its business-confidence index for March stood at 103 points, up from 97.5 in February. It added that confidence was up in all business sectors, with manufacturing rising from 100.5 points to 103.7 - the highest level since June 2011. Premier Matteo Renzi's government and several experts have said there are signs the Italian economy is recovering after years of recession.
Italian consumer confidence, meanwhile, has this month climbed to its highest level since May 2002, Istat said.
The national statistics agency said its confidence-climate index increased from 107.7 in February to 110.9 in March. Consumer confidence is considered important by experts because people tend to spend less if they are pessimistic about the economic climate, which would make recovery from years of flat and negative growth more difficult.
"The increase is explained by a growth in all components: economic, personal, current and future, which increased respectively from 138.1 to 144.8, from 98.0 to 99.7, from 98.5 to 102.2 and from 121.8 to 123.9," Istat said in a statement.
"The balance concerning expectations on unemployment decreased from 10 to -3. "The balance on inflation perceptions referring to the last 12 months increased from -27 to -26, registered in the previous month. "The balance on inflation expectations for the next 12 months also decreased from -33 to -28".
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