Italian construction confidence jumps as Türkiye and Swiss gauges rise
Italian construction confidence climbed to 102.9 as the broader business measure improved. Türkiye's economic confidence index crossed back above the optimism line at 100.6, while Switzerland's KOF barometer rose to 106.7. Production, expectations and business conditions improved, while private consumption and some sectors remained weak.
Economics & Markets··Evening
Construction leads Italy's confidence gain
Italy's consumer confidence index moved from 94.2 to 94.5 in August, while the composite business measure rose from 95.7 to 96.9. Construction recorded the sharpest sector move in Istat's release, climbing from 96.8 to 102.9. Manufacturing confidence increased from 89.7 to 89.9, market services from 98.2 to 99.5 and retail trade from 106.5 to 106.6. Manufacturers reported better production expectations and inventory assessments, but their views of current order books worsened.[1]
Türkiye's composite index crosses the 100 line
Türkiye's economic confidence index rose 0.8 per cent in August from 99.8 to 100.6, moving back above the 100 line associated with optimism. Consumer confidence increased 1 per cent to 90.8 and real-sector confidence 1.2 per cent to 102.4. Not every component moved higher: services slipped 0.1 per cent to 111.9, retail trade fell 0.8 per cent to 110.1 and construction declined 0.4 per cent to 83.1. The composite measure reported by Dünya combines consumer and real-sector readings with those three sector surveys.[2]
Production and foreign demand lift the Swiss barometer
Switzerland's KOF Economic Barometer rose from a revised 104.2 in July to 106.7 in August, a gain of 2.5 points that left it noticeably above its medium-term average. Manufacturing, other services and foreign-demand groups supported the increase, while intermediate-product inventories, employment prospects, production activity and order backlogs pointed to a stronger outlook. Gains in Italian construction and broad business confidence, alongside higher consumer and real-sector readings in Türkiye, show that August's brighter tone was not confined to one sector. KOF nevertheless reported that private consumption remained slightly under pressure.[3], [1], [2]
