Italy consumer confidence returns to growth in May, business morale down again

Italy’s consumer confidence climbed in May after two negative months but overall business morale fell again, according to the latest report from national statistics office Istat. Composite business confidence across the manufacturing, retail, construction and services sectors declined to 94.1 in May from 95.1 the previous month due to falls in market services and construction, partly offset by a slight rise in retail trade sentiment to 101.0 from 100.8.