ROME (Reuters) -Italian business and consumer sentiment rose in October, data showed on Tuesday, beating analysts’ forecasts in a boost for the euro zone’s third largest economy.
National statistics institute ISTAT’s composite business morale index, combining surveys of the manufacturing, retail, construction and services sectors, rose to 94.3 this month from 93.7 in September.
The sub-index for manufacturing was also higher at 88.3 against 87.4 the month before, against a forecast of 87.5 in a Reuters survey of four analysts.
Consumer confidence also climbed in October to 97.6 from 96.8 the previous month, ISTAT said, up on a median forecast of 97.0 in the Reuters’ poll.
The Italian economy contracted by 0.1% in the second quarter from the previous three months and the government this month trimmed its growth estimates for this year and next to 0.5% and 0.7%, respectively, citing the impact of US trade tariffs.
(Reporting by Crispian Balmer)
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