Rome (Reuters) – In the midst of the government crisis in Italy, business and consumer sentiment remains largely stable.
The barometer for the business climate of the entire economy – from industry to service providers – rose minimally by 0.2 to 87.9 points in January, as the statistical office Istat announced on Thursday. In the industry in particular, however, the mood deteriorated to 95.1 points from 96.0 points in December. Economists had only expected a decline to 95.6 points here. The barometer for the consumer climate fell slightly by 0.4 to 100.7 points.
Italy has been particularly hard hit by the outbreak of the virus pandemic. The third largest economy in the euro zone is likely to have contracted in the final quarter of 2020. However, the government crisis is currently making the biggest headlines in Italy. Prime Minister Giuseppe Conte resigned on Tuesday after his coalition collapsed. Observers assume, however, that the independent law professor could be given the mandate by President Sergio Mattarella to forge a new government alliance.