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Investing.com -- Italian business and consumer sentiment increased in October, surpassing analysts’ expectations and providing a positive signal for the euro zone’s third largest economy.
The composite business morale index, which combines surveys across manufacturing, retail, construction and services sectors, climbed to 94.3 in October from 93.7 in September, according to data released Tuesday by Italy’s national statistics institute ISTAT.
The manufacturing sub-index also showed improvement, rising to 88.3 from 87.4 in September. This reading exceeded the forecast of 87.5 that had been anticipated by analysts.
The better-than-expected sentiment readings represent a positive development for the Italian economy, which plays a significant role in the broader euro zone economic landscape.
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