Italy July manufacturer and consumer morale rise more than expected


July 26 (Reuters) - Morale among Italian manufacturers and
consumers rose more than expected in July, data showed on
Wednesday, suggesting the economy got off to a good start in the
third quarter.
    ISTAT's manufacturing confidence index rose to 107.7
in July from 107.3 in June. The reading was well above the
median forecast of 107.0 in a Reuters survey of 10 analysts.
    Improved outlooks for orders and production pushed up
manufacturing confidence, ISTAT said.
    ISTAT's composite business morale index, combining surveys
of the manufacturing, retail, construction and services sectors,
fell in July to 105.5 from a revised 106.3 in June (previously
reported 106.4).
    Consumer confidence rose in July to 106.7 versus 106.4 in
June. A Reuters survey showed analysts had expected a slight
decline to 106.2.
    ISTAT gave the following data on manufacturing confidence:
                   JULY     JUNE     MAY     APRIL    MARCH

 Overall index     107.7    107.3    106.9   107.7    107.0

 Orders level       -3.1     -4.8r    -6.4r   -4.0r    -4.8r
 Inventories         2.8      1.8r     2.4     3.2      3.4
 Output outlook     13.1     12.8r    13.7    14.3r    13.5r
    ((Reporting by Steve Scherer, Rome Newsroom +39 06 8522

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