Figures from the National Institute of Statistics (ISTAT) showed that in May the consumer confidence index fell to 105.1 points from 105.5 points in April. Economists had expected a decline to 105.2 points. Meanwhile, the economic climate indicator improved from 119.0 to 119.8, the current one fell from 100.2 to 100, the personal one declined from 100.9 to 100.1 and the future one slipped from 113.3 to 112.6.
The data also showed that the economic sentiment indicator fell to 108.7 points from 110.4 points in April. The confidence climate in manufacturing fell to 101.4 from 102.8 in April, while the confidence climate in construction declined from 164.2 to 159.4. The market services confidence index fell from 105.5 to 104.1, and the retail trade confidence index declined from 112.9 to 111.6.
Italian GDP increased by a stronger-than-expected in the first quarter (+0.5% QoQ), and in April the government revised up its forecast for full-year GDP growth to 1.0% from 0.6% previously.