Report published September 30, 2026

Italian September Confidence Setback Points to a Softer Autumn: ING Economic Analysis

ING · September 30, 2026

Italian consumer confidence fell sharply to 91.2 in September while business sentiment slipped to 95.9, led by caution in construction, services, and retail. While manufacturing orders offered a modest bright spot, the survey points to subdued near-term GDP growth and downside risks to Q4 consumer spending.

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Finvaulta summarizes ING's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.

Key Takeaways

1.Italian consumer confidence dropped sharply to 91.2 in September from 94.5 in August, showing that households remain vulnerable to uncertainty and purchasing power pressures.
2.Business confidence fell to 95.9 from 97.0, with declines in construction, services, and retail outweighing a modest rebound in manufacturing.
3.The data signals subdued near-term GDP growth rather than contraction, but downside risks to private consumption in Q4 have increased.

Report data

Worsening confidence indicators suggest Italians remain sensitive to uncertainty and pressure on purchasing power

Metric	Estimate	Context
Consumer Confidence Index	91.2 index points	Dropped from 94.5 in August, reversing gains from the prior two months
Business Confidence Index	95.9 index points	Declined from 97.0 in August, ending a three-month streak of increases
Manufacturing Confidence	91.9 index points	Rose from 90.2 as order books improved
Construction Confidence	97.5 index points	Fell from 102.8, weighed down by residential and specialised works
Market Services Confidence	96.9 index points	Fell from 99.4 as current affairs and orders weakened