Consumer confidence declined again in November amid an increase in the number of COVID-19 infections, while the economic sentiment indicator remained virtually unchanged compared to October.
According to the report, the economic sentiment indicator rose to 115.1 in November from 115.0 in October, and the consumer confidence index fell to 117.5 from 118.4. The first index was expected to fall to 114, and the second to 117. Meanwhile, the index of the future consumer climate fell to 121.0 from 125.4, the index of the economic climate fell to 139.8 from 142.2, and the index of the current climate rose to 115.2 from 113.7 in October.
The data also showed that the confidence climate in manufacturing improved from 115.1 to 116.0, while the confidence index in construction decreased from 159.2 to 157.4. The market services confidence index weakened from 112.1 to 111.3, while the retail trade confidence index increased from 105.4 to 106.8.
In response to the growing number of COVID-19 infections, Mario Draghi's government announced new measures this week that tighten restrictions for unvaccinated citizens. According to the latest government forecasts, Italy's GDP will grow by 6.0%, but there is a possibility that growth will be even higher against the background of recent favorable data.