Figures from the National Institute of Statistics (ISTAT) showed that in May the consumer confidence index rose to 102.7 points compared with 100 points in April. This was the first increase after four consecutive declines. Economists had expected an increase to only 100.5 points.
Meanwhile, the economic climate grew from 97.3 to 103.6, the future one rose from 98.9 to 99.8, the personal one increased from 100.9 to 102.4 and, finally, the current one progressed from 100.8 to 104.6.
The data also showed that the composite business morale indicator, combining surveys of the manufacturing, retail, construction and services sectors, rose in May to 110.9 from 108.4 in April.
The manufacturing confidence index fell to 109.3 in May from 109.9 in April, which was due to a less favorable assessment of orders and inventories. The construction confidence index also declined - to 158.7 from 160.6 - amid a deterioration in the order books/construction estimates.
As for the index of confidence in market services, it rose to 103.6 from 97.2 in April. The improvement was driven by increased optimism about both current orders and current business trends. Meanwhile, the retail confidence index rose to 105.5 in May from 103.6 last month, helped by improved business activity estimates.