Italian companies hit by high energy costs, inflation expectations: central bank

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Italian companies hit by high energy costs, inflation expectations: central bank

STORY: Italian companies hit by high energy costs, inflation expectations: central bank DATELINE: Oct. 11, 2022 LENGTH: 00:01:42 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of production lines in Italian factories STORYLINE: Sentiment among Italian businesses worsened in the third quarter, the Bank of Italy's latest survey revealed Monday. Declining confidence among businesses is due to expectations of high inflation, which has damaged the country's economic outlook in recent months and is set to continue well into the future, the survey said. The central bank surveyed Italian companies in the industrial and service sectors with at least 50 employees, between Aug. 25 and Sept. 15. According to the data, the overall economic situation worsened in the third quarter, and there was "pessimism" about the outlook for companies over the last three months of the year. This reflected "uncertainty attributable to economic and political factors and the upward trend in commodity prices," meaning surging

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