Italy manufacturing morale eases in November, but consumers more upbeat than ever
ROME, (Reuters) - Morale among Italian manufacturers posted an unexpected fall in November but consumer confidence continued a recent improvement to hit a record high, data showed on Friday.
National statistics institute ISTAT said the data was compiled during the first 15 days of the month and was therefore only "minimally" affected by militant attacks on Paris on Nov. 13 which killed 130 people.
ISTAT's manufacturing confidence index declined to 104.6 in November from a downwardly revised 105.7 the month before, but still remained well above the levels seen for most of the last three years.
The index was below the median forecast of 105.9 in a Reuters survey of 14 analysts.
ISTAT's composite business morale index, combining surveys of the manufacturing, retail, construction and services sectors, edged up to 107.1 in November from 107.0 to post its highest reading since October 2007.
Consumer confidence rose for the fourth month running to 118.4 from 117.0 to reach its highest level since the historic series began in January 1995.
Prime Minister Matteo Renzi presented a tax cutting 2016 budget last month which may be supporting consumer sentiment despite stubbornly high unemployment and signs that a modest economic recovery is failing to gather speed.
The November consumer confidence reading was well above the median forecast in Reuters' survey which pointed to 116.5.
(Reporting by Gavin Jones)
