Istat economic sentiment indicator - Iesi : Istat economic sentiment indicator - Iesi: Since June 2012, Istat disseminates the composite indicator regarding the confidence climate of the entire Italian productive sector, named in short Iesi (Istat Economic Sentiment Indicator). Until April 2022, the indicator has been calculated by aggregating the balances of the variables (seasonally adjusted and standardised) included in the confidence climate indicator of the manufacturing sector (assessments on order books, expectations on production and assessments on stocks), of the construction sector (assessments on order books and/or construction plans and expectations on employment), of the market service sector (assessments and expectations on order books and assessments on business situation) and of the retail trade sector (assessments and expectations on business situation and assessments on stocks). Starting from the publication of May 2022, the Iesi calculation methodology has been changed. From that date, the composite indicator is obtained directly as a weighted average of the four indexes of the sector-based confidence climates (i.e., as a weighted average of the confidence climate indices of the manufacturing, the construction, the market service and the retail trade sectors). The new time series of Iesi was recalculated starting from March 2005. It replaces the previously published series.
As for the calculation methodology, the four series of the sector-based confidence climate indexes, seasonally adjusted with the Tramo-Seats method, are aggregated by weighted average, using as weights the shares of the value added of each sector.
Starting from the publication of data referred to January 2024, as a consequence of the update of the base of the sector-based confidence indexes, the Iesi was recalculated as a weighted average of the based 2021=100 business confidence climate indexes. The weights used for the synthesis of the confidence index series refer to the value added at basic prices relating to the year 2010 for the period March 2005-December 2009; they refer to the value added at factor cost relating to the year 2012 from January 2010 to December 2020. Finally, starting from January 2021, the value added (at factor cost) 2021 is used as weight. The new time series of Iesi replaces the previously published series.The series under the heading Previous series - climate (weighted average of indexes 2010 = 100), is calculated as weighted average of the four sectorial confidence climate indexes based 2010=100. In this case, the weights used for the synthesis of the confidence climate indexes refer to the value added at basic prices referring to the year 2010 for the period March 2005-December 2009 and to the value added at factor cost relating to the year 2012 for the period January 2010 -December 2023 (last available data of the series thus estimated).
Business surveys were not carried out in April 2020 due to coronavirus emergency. Therefore, IESI indicator referring to April 2020 is not available.
Istat economic sentiment indicator - Iesi : Istat economic sentiment indicator - Iesi: Since June 2012, Istat disseminates the composite indicator regarding the confidence climate of the entire Italian productive sector, named in short Iesi (Istat Economic Sentiment Indicator). Until April 2022, the indicator has been calculated by aggregating the balances of the variables (seasonally adjusted and standardised) included in the confidence climate indicator of the manufacturing sector (assessments on order books, expectations on production and assessments on stocks), of the construction sector (assessments on order books and/or construction plans and expectations on employment), of the market service sector (assessments and expectations on order books and assessments on business situation) and of the retail trade sector (assessments and expectations on business situation and assessments on stocks). Starting from the publication of May 2022, the Iesi calculation methodology has been changed. From that date, the composite indicator is obtained directly as a weighted average of the four indexes of the sector-based confidence climates (i.e., as a weighted average of the confidence climate indices of the manufacturing, the construction, the market service and the retail trade sectors). The new time series of Iesi was recalculated starting from March 2005. It replaces the previously published series.
As for the calculation methodology, the four series of the sector-based confidence climate indexes, seasonally adjusted with the Tramo-Seats method, are aggregated by weighted average, using as weights the shares of the value added of each sector.
Starting from the publication of data referred to January 2024, as a consequence of the update of the base of the sector-based confidence indexes, the Iesi was recalculated as a weighted average of the based 2021=100 business confidence climate indexes. The weights used for the synthesis of the confidence index series refer to the value added at basic prices relating to the year 2010 for the period March 2005-December 2009; they refer to the value added at factor cost relating to the year 2012 from January 2010 to December 2020. Finally, starting from January 2021, the value added (at factor cost) 2021 is used as weight. The new time series of Iesi replaces the previously published series.The series under the heading Previous series - climate (weighted average of indexes 2010 = 100), is calculated as weighted average of the four sectorial confidence climate indexes based 2010=100. In this case, the weights used for the synthesis of the confidence climate indexes refer to the value added at basic prices referring to the year 2010 for the period March 2005-December 2009 and to the value added at factor cost relating to the year 2012 for the period January 2010 -December 2023 (last available data of the series thus estimated).
Business surveys were not carried out in April 2020 due to coronavirus emergency. Therefore, IESI indicator referring to April 2020 is not available.