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Economy in Brief

Italy's Business Confidence Continues To Drop
by Robert Brusca January 28, 2009

While business sentiment is falling to new lows and very low lows in Italy , the good news is that the pace of decline is letting up. Italy ’s businesses are clearly in bad shape and concerned. But maybe the rate of deterioration and adverse assessment is slowing down.

In the table below we rank the various components of this measure since 1996 and we find for just about very category there is a new low being made. Inventories are the sole exception and there the bad news is that inventories are generally regarded as high.

In Italy , Silvio Berlusconi's government has approved a stimulus package to kick-start the economy with measures it says are worth 80 billion Euros, but this program largely recycles existing funds and the plan has failed to lift the pessimism that has imbued the Italian economy.

The Italian results fit in with a new leading index result for Europe that finds conditions are still set to deteriorate further. Confidence a for businesses and consumers is still generally either very low and stuck three or has declined across most of the e-Zone.


Italy ISAE Business Sentiment
Since Oct 1996
  Jan-09 Dec-08 Nov-08 Oct-08 Percentile Rank
Biz Confidence 65.5 66.8 71.7 76.5 0.0 148
TOTAL INDUSTRY            
  Order books & Demand            
    Total -58 -54 -45 -38 0.0 148
    Domestic -63 -58 -47 -39 0.0 148
    Foreign -59 -54 -44 -33 0.0 148  
  Inventories 9 9 8 6 83.3 14    
  Production -55 -46 -37 -29 0.0 148
INTERMEDIATE            
  Order books & Demand            
    Total -74 -68 -52 -42 0.0 148
    Domestic -74 -69 -53 -40 0.0 148
    Foreign -73 -67 -50 -38 0.0 148
  Inventories 12 7 10 9 93.1
  Production -65 -58 -43 -29 0.0 148
INVESTMENT GOODS            
  Order books & Demand            
    Total -62 -62 -52 -39 0.0 147
    Domestic -65 -64 -56 -44 0.0 148
    Foreign -54 -56 -45 -27 2.5 147
  Inventories 7 9 11 6 63.2 40
  Production -54 -50 -41 -28 0.0 148
CONSUMER GOODS            
  Order books & Demand            
    Total -47 -36 -32 -33 0.0 148
    Domestic -48 -39 -32 -34 0.0 148
    Foreign -54 -42 -36 -32 0.0 148
  Inventories 7 10 5 3 69.2 35
  Production -42 -28 -27 -29 0.0 148
Total number of months: 148    
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