Istat: sharp drop in consumer confidence in March

In March 2026, the consumer confidence indicator dropped from 97.4 to 92.6, while the composite indicator of business confidence fell marginally (from 97.4 to 97.3). This was reported by Istat. Among consumers, there was a widespread worsening of opinions, especially those on the country's economic situation: the economic climate fell from 99.1 to 88.1, the future climate fell from 93.1 to 85.3, the personal climate fell from 96.8 to 94.2 and the current climate fell from 100.7 to 98.0.

With reference to companies, Istat explains, the confidence index increases in all the sectors surveyed with the exception of retail trade: in manufacturing and construction the climate rises from 88.5 to 88.8 and from 103.1 to 103.6 respectively, in market services it increases from 102.1 to 102.7 and in retail trade it falls from 104.9 to 100.6.

With regard to the components of the confidence indices, in the manufacturing industry, entrepreneurs judge the trend in the level of orders to be improving, but expect a decrease in the level of production; stocks of finished goods are judged to be decreasing. In construction, all components are improving. In market services, there is a positive trend in judgments on orders, while their expectations are falling; assessments of business trends are optimistic. In retail trade all components are worsening.

Based on the assessments provided by entrepreneurs in the manufacturing sector on the change in investments compared to the previous year, less optimism emerges in 2026 compared to the similar change in 2025 (compared to 2024). The consumer confidence index - Istat comments - "suffers a marked decline due to a worsening of all the components of the index, with the exception of the variable on the opportunity to save in the current phase. It should be noted that the components registering the most pronounced deterioration are judgements and above all expectations on the general economic situation'.