Confidence among manufacturers in recession-hit Italy rebounded strongly in April from a record low, fresh data showed on Tuesday, offering hope for its largely industry-driven economy.
The ISAE research institute's index of confidence among manufacturing managers ticked up to 64.2 points in April from its March reading of 60.9, which was its lowest recorded since the index started in 1991.
Analysts polled by Dow Jones Newswires had forecast a reading of 61 points.
Italy entered a recession -- defined as two quarters of negative growth in a row -- in the third quarter of last year.
Retail sales fell sharply in February however, data from the official statistics office Istat showed on Tuesday. Such sales were down 0.7 percent compared to January, and 3.1 percent from February the previous year.
Copyright 2009 AFP Global Edition
