Confidence among Italian entrepreneurs improved more than economists expected in May, latest survey data showed Wednesday.
The businesses confidence index for the manufacturing sector advanced to 88.5 in May from April's revised reading of 87.9, statistical office Istat said. Economists had forecast the index to record a more modest growth to 88.1.
Surveyed firms were slightly more optimistic about new order wins, and showed improved confidence in production growth.
Among industrial sub-groups, notable improvements were seen in confidence among manufacturers of intermediate goods, consumer goods and capital goods.
The confidence index for the construction sector advanced to 81.8 in May from 78.4 in April. Firms' views of new business intakes and the employment situation in the sector turned more upbeat.
The composite index of conference, or the economic sentiment indicator, increased to 79.8 in May from 74.9 in April, marking a marked improvement in overall conference.
For comments and feedback: editorial@rttnews.com