The manufacturing confidence index in Italy held steady at 87.3 in September 2025, slightly below market forecasts of 87.5. Assessments of order books improved (-19.7 vs -20.5 in August), while inventories of finished goods remained unchanged (at 2.7). At the same time, manufacturers turned less pessimistic about the outlook for the general economy (-14.4 vs -18.6) and liquidity conditions (-4.9 vs -7.5), and showed greater optimism regarding future employment (1.6 vs 0.3). Concerns over price trends eased as well (5.0 vs 6.1). However, expectations for production deteriorated (-0.4 vs 0.4).