Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Italian Business Confidence Rises in June After Letta Measures

June 28 (Bloomberg) -- Italian business confidence rose this month after Prime Minister Enrico Letta’s Cabinet passed plans to boost employment and postponed the payment of the value-added tax planned for July.

The manufacturing-sentiment index rose to 90.2, the highest since March 2012, from a revised 88.7 in May, Rome-based national statistics institute Istat said today. Economists had predicted a reading of 88.9, according to the median of 13 estimates in a Bloomberg News survey. The index is based on a poll of about 4,000 businesses.

On June 26, Letta’s cabinet approved a series of measures to try to increase hiring of young people after the jobless rate reached a 36-year high in April. In an effort to spur consumer spending, Italy also decided to postpone a scheduled sales-tax increase until Oct. 1, with the possibility of delaying it further. The euro region’s third-biggest economy is probably in its eighth quarter of economic contraction and is forecast to shrink 1.9 percent this year, business lobby Confindustria said in a report yesterday.

Consumer confidence increased in June amid households’ hopes of an economic recovery later in 2013, Istat said earlier this week. Still, industrial output unexpectedly fell for a third month in April, signaling that the recession Italy entered at the end of 2011 may extend to the second half of this year.

Istat originally reported a business confidence index at 88.5 in May.

To contact the reporters on this story: Lorenzo Totaro in Rome at; Chiara Vasarri in Rome at

To contact the editors responsible for this story: Craig Stirling at; Jerrold Colten at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.