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Italian consumer and business confidence both weaken in November

Italian consumer confidence and business sentiment both worsened in November, the National Institute for Statistics said, with the index tracking the former shedding close to 2 points.

The consumer confidence climate index fell to 114.3 in November from 116.0 in the previous month, with measures of economic, personal, current and future climate all decreasing. The balance on unemployment expectations jumped to 19.7 from 13.5.

The business confidence index dipped to 108.8 from 109.1, as falling confidence among retail traders weighed on the index. The retail trade confidence index decreased to 110.0 from 113.2 on the back of declining assessments on current sales and falling expectations for future sales.

The manufacturing confidence index remained almost stationary at 110.8 from 110.9, as assessments of order books improved while production expectations deteriorated.

The confidence index in construction rose to 132.1 from 130.3 on improved assessments of order books and construction plans although employment expectations remained basically the same.

Confidence among market services firms increased to 108.2 from 107.7, as assessments on order books, assessments on business trend and expectations on order books all improved, the institute said.