Economics
Italian Manufacturing Morale Falls Amid Concerns Over Recovery
- Economic growth failed to accelerate in first quarter of year
- Employers lobby said economy could expand 0.3% this quarter
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Italian manufacturing confidence fell this month as executives grew pessimistic about orders and output after data signaled that growth in the euro region’s third-biggest economy may not be gaining momentum.
The business gauge decreased in May to 106.9 from a revised 107.7 last month, statistics agency Istat said Friday in Rome. The median estimate in a Bloomberg survey of 15 analysts called for a reading of 108. Executives in the manufacturing sector lowered their expectations for both orders and production, Istat said. Consumer confidence also declined to 105.4 this month from a revised 107.4 in April.