ROME, Nov 26 (Reuters) - Italian business confidence plummeted in November for the sixth consecutive month, falling to its lowest level since August 1993, data showed on Wednesday.
Economic research institute ISAE's seasonally adjusted business morale index fell to a weaker than expected 72.2 from a downwardly revised 76.9 in October, which was originally reported as 77.7.
All the previous five months were also revised down.
Confidence was below all forecasts in a Reuters survey of 21 analysts, which pointed to an index level of 76.0. Forecasts spanned 73.0 to 78.2
ISAE also reported that the financial crisis meant firms were finding it harder to obtain credit.
ISAE gave the following data:
NOV OCT SEPT AUG JULY JUNE
Overall index 72.2 76.9r 81.3r 82.7r 83.3r 86.4r
Orders level -45 -37r -28 -21 -22 -18
Inventories level 8 6 9 9 10 9
Production outlook -11 -5r 2r 0 4 9
(writing by Gavin Jones in Rome) Keywords: ITALY BUSINESS/CONFIDENCE
(Rome newsroom +39 06 8522 4350, fax +39 06 854 0568, firstname.lastname@example.org)
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