Italy’s consumer morale surprisingly improves in July

Consumer morale in Italy has increased for a third straight month in July, data by the National Institute of Statistics showed.

The gauge of consumer confidence came in at a reading of 98.9 in July, while improving from 98.3 in June. It has been the highest level of confidence since February 2022.

Market consensus had pointed to a drop to 98.

The economic climate sub-index rose to 105.6 in July from 105.3 in June, the future climate sub-index went up to 99.4 from 98.7, the personal climate sub-index improved to 96.5 from 95.8 and the current climate sub-index rose to 98.5 from 98.1.

The EUR/GBP currency pair settled 0.13% lower at 0.8428 on Friday. For the week, the minor currency pair edged up 0.12%.