Figures from the National Institute of Statistics (ISTAT) showed that in February the consumer confidence index rose to 97.0 points from 96.4 points in November. It was the third monthly increase in a row. Economists had expected an increase to 96.9 points. The economic climate index fell from 103.1 to 102.0), while the future one remained practically unchanged (from 97.2 to 97.1). Both the personal climate index and the current one made progress (the former went up from 93.9 to 95.2 and the latter from 95.8 to 97.0).
The data also showed that the economic sentiment indicator fell to 95.8 points from 97.9 points in January. The confidence climate in manufacturing fell to 87.3 from 88.1. The confidence climate in construction declined to 104.4 from 107.0. The market services confidence index deteriorated to 100.2 from 102.5, and the retail trade confidence index fell from 106.3 to 100.6.
Earlier this month, the European Commission announced that Italy is losing momentum and, by 2025, will be again ranked last in the EU for growth rates. Against this background, the forecast for GDP growth for 2024 was reduced by 0.2% to 0.7%. For 2025, however, the picture ahead is mixed. The Italian economy will grow by 0.5%, with GDP expected to expand from 0.7% to 1.2%, the lowest growth in the entire eurozone and even the European Union, albeit on par with Germany.