Figures from the National Institute of Statistics (ISTAT) showed that in December, the consumer confidence index fell to 96.3 points from 96.6 points in November. Economists had expected growth to 97.0 points. Meanwhile, the economic and future climate indices fell from 97.8 to 96.1 and from 93.8 to 93.3, respectively. As for the other components, the personal one increased from 96.2 to 96.4, while the current one remained virtually stable, passing from 98.7 to 98.6.
The data also showed that the economic sentiment indicator increased to 95.3 points from 93.2 points in November. The manufacturing confidence climate declined to 85.8 from 86.5. The construction confidence climate fell to 100.9 from 101.5. The market services confidence index rose to 99.6 from 93.9, and the retail trade confidence index improved from 106.8 to 106.9.
According to the latest ISTAT forecasts, Italy's GDP will grow by 0.5% in 2024 and 0.8% in 2025. In 2024, GDP growth will be supported by net foreign demand (+0.7 percentage points), while domestic demand will contribute negatively (-0.2 p.p.). In 2025, however, the growth of the Italian economy will be primarily driven by domestic demand (+0.8 p.p.).