In the News

Confidence Climbs

For the first time in more than two years, Italian business confidence climbed to its highest point yet, signaling that businesses are growing more optimistic about demand at home and abroad. According to the Isae Institute’s manufacturing-sentiment index, confidence levels jumped from 98.3 in July to 100.5 in August.

There are indications that Italy’s recovery from its worst recession in six decades may be gathering strength, as the economy expanded for the second quarter ending in June. However, the country’s recovery still lags behind the other Group of Seven nations, having expanded only 1.1 percent from a year ago.