According to Paolo Pizzoli, senior economist at ING, Italy’s February confidence data has pointed towards a continuation of the economic recession as consumer confidence fell to 112.4 (from 113.9), an 18-month low, and the composite business confidence was down to 98.3 (from 99.1 in January), the lowest level since March 2015. Key Quotes “The sector split shows that confidence fell slightly in manufacturing and services, and much more heavily in construction, while it rebounded substantially among retailers. A quick look at the forward-looking part of the report in the manufacturing domain shows that order books remain under pressure, more markedly in the intermediate and the investment goods sectors, and that judgments on inventories are picking up.” “All in all, today’s release points to a continuation of the soft patch for the Italian economy, supporting our view that 1Q19 will see another quarterly contraction for Italian GDP (we anticipate a -0.1% quarter-on-quarter). The recession theme will likely become more central in the domestic political debate, which is currently concentrating on the impact of recent local elections.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/USD tumbles to daily lows near 0.7150 FX Street 4 years According to Paolo Pizzoli, senior economist at ING, Italy's February confidence data has pointed towards a continuation of the economic recession as consumer confidence fell to 112.4 (from 113.9), an 18-month low, and the composite business confidence was down to 98.3 (from 99.1 in January), the lowest level since March 2015. Key Quotes "The sector split shows that confidence fell slightly in manufacturing and services, and much more heavily in construction, while it rebounded substantially among retailers. A quick look at the forward-looking part of the report in the manufacturing domain shows that order books remain under pressure, more markedly… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
