ROME, May 27 - Italian business confidence surprisingly slipped again in May to its lowest level in 16 months, but there were signs that an end to the blues might be in sight, research body ISAE said on Tuesday.
The government-funded thinktank said morale in the euro zone's third-largest economy fell to a seasonally-adjusted 90.0 from an upwardly-revised 90.5 in April. April was previously reported as 90.2.
Analysts had been expecting the index to rise fractionally in May to an average 90.6.
ISAE's survey of 4,000 businesses between May 5 and 19 showed order levels the main culprit for the gloom, stuck at 15-month lows.
But there was some light on the horizon.
"Those surveyed were however more optimistic about short-term prospects for their own businesses and the Italian economy in general," ISAE said in its commentary.//