ROME, Sept 30 (Reuters) – Italian business and consumer confidence fell in September, data showed on Wednesday, in a negative sign for the prospects of the euro zone’s third largest economy.
• National statistics institute ISTAT’s consumer confidence index dropped to 91.2 from 94.5 the previous month, far below a median forecast of 94.0 in a Reuters’ poll of six analysts.
• ISTAT’s composite business morale index, combining surveys of the manufacturing, retail, construction and services sectors, slipped to 95.9 against 97.0 in August.
• The sub-index for manufacturing, however, climbed to 91.9, above a median forecast of 90.5, from 90.2 the month before.
• Giorgia Meloni’s government in April cut its economic growth outlook to 0.6% for this year and next, reflecting surging energy prices and turmoil in the Middle East, from previous targets of 0.7% and 0.8% respectively.
• However, gross domestic product data in the first and second quarters came in stronger than expected, suggesting some economic resilience to the Middle-East crisis.
• The government is expected to update its projections this week, and has said growth is likely to be forecast at close to 1% for this year.
(Reporting by Antonella Cinelli, graphic by Stefano Bernabei, editing by Gavin Jones)
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