FT Alphaville " Italy's businesses play it coy Italian business confidence has taken a serous hit, falling to its lowest level in two years in April. According to the wires: The manufacturing-sentiment index dropped to 89.5 from a revised 91.1 in March, Rome-based national statistics institute Istat said today. Economists had predicted a reading of 92.1 And this lovely chart tracking the relationship between Italian GDP and business confidence from Reuters gives some indication of just how ugly things might get (h/t@scottybarber): Related links: Once upon a time in Italian banking - FT Alphaville Bringing the debt home, Italian and Spanish banks edition - FT Alphaville This entry was posted by David Keohane on Thursday, April 26th, 2012 at 9:31 and is filed under Uncategorised. Tagged with eurzone debt crisis, Italy, Recession.