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Italy's consumer, business confidence drop in August

Consumer and business confidence in Italy deteriorated in August month over month, data from the country's National Institute of Statistics showed.

The consumer confidence index dropped to 111.9 in August from 113.3 in the previous month, as all components of the index saw a decline. The economic component dropped to 127.8 from 129.6, the component measuring sentiment about current situation was down to 110.0 from 111.1 while the one about future fell to 115.4 in August from 117.4 in the previous month.

Meanwhile, the index depicting business confidence decreased to 98.9 in August from 101.2 in the previous month. The index measuring business confidence in the manufacturing sector fell to 99.7 from 100.1 as production expectations declined while assessments on order books improved.

The business climate in Italy's construction sector cooled as the relevant index fell to 140.4 in August from 142.8.

The retail trade confidence index dipped slightly to 109.9 in August from 110.0 as opinions on current sales improved while expectations on future sales weakened.