ROME: Morale among Italian manufacturers rose slightly for the second month running in November, but broader business sentiment declined as the economy struggles to emerge from recession, data showed on Thursday.
National statistics office ISTAT's manufacturing confidence index rose to 96.3 in November from a marginally revised 96.1 the previous month. The October figure was originally reported as 96.0.
The median forecast of a Reuters survey of analysts had pointed to a stable 96.0 reading in November.
ISTAT's composite business morale index, which combines surveys of the manufacturing, retail, construction and services sectors, fell in November to 87.7 from a downwardly revised 89.1 in October.
Declining sentiment in the services and construction sectors outweighed the improvement in manufacturing and more upbeat retailers.
Italy's sister survey of consumer sentiment published on Wednesday showed confidence fell to a nine-month low, despite income tax cuts introduced by Prime Minister Matteo Renzi earlier this year.
Italy's economy shrank 0.1 percent in the third quarter, data showed this month, and has not posted a single quarter of growth for 13 straight quarters.
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