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Italian consumer, business sentiments improve in May

Consumer and business sentiments in Italy improved in May after declining in April, data from the country's National Institute of Statistics showed.

The Italian consumer confidence index ticked up to 111.8 in May from 110.6 in April, surpassing expectations for a decrease to 110.0.

The economic climate indicator rose to 125.9 in May from 122.8 in April, while personal, current and future climate indicators also improved.

Meanwhile, the index measuring business confidence in Italy increased to 100.2 in May from 98.8 in April.

The manufacturing index increased to 102.0 in May from 100.8 in April on improved order books assessments and production expectations. Confidence in the construction sector increased to 144.3 from 141.2 on the back of improved construction plans and employment expectations.

Furthermore, the index measuring market services and retail trade improved.