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Sentiment Weakens In October

ITALY DATA

Italian economic sentiment fell again in October, falling to 103.9 (vs 104.9 prior) and below levels seen in mid-2021.

  • Consumer confidence undershot expectations at 101.6 (vs 105.2 cons; 105.4 prior), driven by a reduction in all subcomponents. This was the largest M/M drop since October 2022 and brings the index to the lowest since Jan 2023.
  • Manufacturing sector confidence was in line with consensus at 96.0 (vs 96.4 prior) - the 7th consecutive drop. Firms cited concern about current order books but a slight recovery in production.

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