Italian Confidence Gauges Rise Above Estimates, Boosting Renzi

Italian business confidence and consumer confidence jumped above economists’ expectations this month, buttressing Prime Minister Matteo Renzi’s claims that he has put the country on a credible growth path.

The business gauge rose to 104.2 in September, statistics agency Istat said Monday, above the median estimate of 102.7 in a survey of 12 analysts. Consumer confidence rose to 112.7 while the median of 10 economists surveyed by Bloomberg called for 108.7.

Renzi, Italy’s 40-year old premier, is relying on growth forecasts higher than most economists’ outlooks and a jump in prices to predict that Italy’s staggeringly high debt will fall for the first time since 2007 while the country’s economy returns to sustainable growth.

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