(RTTNews) - Confidence among Italian businesses improved unexpectedly in August, data from the statistical office Istat showed Tuesday.
The business sentiment index was at 99.9 in August, up from 98.8 in July. Economists expected a fall in the index to 97.1.
Assessments on order books improved, while production expectations worsened. Inventories remained unchanged during the month. The seasonally adjusted confidence index in construction rose to 75.8 from 74.4 in the previous month, the statistical office said.
The seasonally adjusted market services confidence indicator rose to 94.3 in August from 94.2 in July. The index rose in rose in business services, but diminished in transportation and storage, tourism services as well as in information and communication.
In the retail sector, however, the indicator decreased to 97.8 in August from 102.6 in July. The confidence diminished both in large scale distribution and small and medium scale distribution.
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