Italian business confidence declined to its lowest level in more than two years in February as slowing Italian and global economic growth damped orders and political uncertainty sapped optimism. The Isae Institute's business confidence index fell to 89.8, the lowest since October 2005, from 91.3 in January, the Rome-based research center said today.
A sub-index measuring Italian manufacturers' foreign orders fell to minus 17 from minus 11, and an index measuring domestic orders declined to minus 15 from minus 12, according to today's report. Manufacturers grew more pessimistic about Italy's economy in the coming months, according to a sub-index that fell to minus 34 from minus 25 in January.
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