STEP 1-Italy, consumer confidence, companies rising in March – Istat – Reuters Italy

       

(incorporates pieces and adds context)

       

ROME, March 30 (Reuters) – The business and consumer confidence rises in March and returns to the highest level for several years, increasing the expectations of those who see 2015 as the year of recovery for the stagnant Italian economy.

       

According to ISTAT, the index that measures the morale of manufacturing companies rose to 103.7 from 100.5 (revised from 99.1) in February, the highest since June 2011, that is, from the beginning of the recession .

       

The figure is not comparable with the median of estimates gathered by Reuters among analysts (99.8). From this month, in fact, Istat disseminates the indices and related series with 2010 as the new base year.

       

The overall index on the business climate – manufacturing, services, trade and construction – rises to 103 from 97.5 in February and moves to its highest level since July 2008.

       

Good performance also for consumer confidence, which rose to 110.9 from 107.7 in February (revised from 110.9), the highest level since May 2002.

       

It welcomes the Deputy Minister of Economy, Enrico Morando: “Our problem is to transform these signs of recovery, because for now this is, in a stable growth. And to do that we want reforms.”

       

The next week the government will update the macroeconomic framework by publishing the new Document of economics and finance (Def).

       

Morando confirms that “it is conceivable that an Italian GDP growth of 0.7-0.8% in 2015″. More …