Italy's Consumer Confidence Improves

Italian consumer confidence rose more than expected in July -- to its highest level since Nov. '07 -- as the outlook among households towards the overall economy & jobs market improved, data showed. State-funded research center ISAE said its seasonally adjusted consumer confidence index for Europe's 4th-largest economy rose to 107.5 in July, up from 105.4 in June. The 107.5 reading was well above 105.9 forecast by economists polled by Dow Newswires. Consumer confidence ticked higher since March, when the index hit a low of 99.8. Early this month, data showed Italian industrial orders rose moderately in May vs April, rising for the first time since July of 08, as foreign & national demand rose, suggesting a timid pick-up in the economy. Separately, euro-zone economy showed further signs of recovery in July as the slump in industrial production eased. A measure of activity by the Centre for Economic Policy Research & Bank of Italy rose for a 5th straight month to -0.42 in July. That was the highest level since August 08 & compares to -0.61 in June. The CEPR's EuroCoin indicator is intended to measure quarter-to-quarter rate of growth in the euro-zone economy. The CEPR said indicator confirms the euro-zone economic recession bottomed out in the 1st-Q of 09, when European statistics agency Eurostat reported GDP contracted by 2.5% from the previous quarter & by 4.8% in