CONFIDENCE UP IN JULY FOR MANUFACTURING SECTOR

CONFIDENCE UP IN JULY FOR MANUFACTURING SECTOR

(ANSA) - Rome, July 29 - Confidence in the manufacturing sector in May rose for the tenth month in a row, the Treasury's economic think-tank reported on Thursday.

The Institute for Economic Study and Analysis (ISAE) said its confidence index for the sector rose from 96.3 points in June to 98.3 points, back to a level last seen in June 2008.

The increase was made possible, ISAE explained, thanks to a further decline in inventories and improved prospects for orders and demand in general.

Confidence was also higher in the construction sector where the index updated to July showed confidence climbing to 72.8 points from 71.5 points in June.

The retail sector ran against the general positive trend with the index for that sector in July dropping from 103 points to 99.4 points, while the index for the market services sector rose from 95.5 points in June to 98.9 points after three lean months, ISAE reported.