2025年5月，意大利的经常账户盈余从去年同期的93万欧元扩大到16.7亿欧元。主要收入赤字从52.5亿欧元缩小到40.5亿欧元。与此同时，二级收入差距从5.7亿欧元增加到7.1亿欧元。商品盈余从65亿欧元降至62.8亿欧元，而服务盈余从2.6亿欧元降至1.5亿欧元。

Italy’s current account surplus widened to €1.67 billion in May 2025, up from €0.93 million in the same month last year. The primary income deficit narrowed to €4.05 billion from €5.25 billion. Meanwhile, the secondary income gap increased to €0.71 billion from €0.57 billion. The goods surplus decreased to €6.28 billion from €6.50 billion, while the services surplus shrank to €0.15 billion from €0.26 billion.

2025年5月，意大利建筑业产出同比增长3.9%，低于上个月向上修正的6.5%的增长。然而，这标志着该行业连续第五个月实现增长。经季节性调整的月度数据显示，5月份产出下降1.4%，扭转了上月向上修正的2.8%的增长。在过去的五个月里，建筑产量比去年同期增长了4%。

Construction output in Italy increased by 3.9% year-on-year in May 2025, slowing from an upwardly revised 6.5% gain in the previous month. Nevertheless, this marked the fifth consecutive month of growth in the sector. On a seasonally adjusted monthly basis, output fell by 1.4% in May, reversing an upwardly revised 2.8% rise in the preceding month. Over the past five months, construction output grew by 4% compared to the same period last year.

周五，富时MIB指数上涨至40200左右，延续了前一交易日的涨幅，并与地区同行保持一致，因为交易员在等待贸易发展的最新消息的同时，专注于企业盈利。莱昂纳多股价上涨超过1%，此前瑞典国防股萨博上涨，萨博在报告第二季度营业收入强于预期后飙升近11%。与此同时，包括Moncler和Davide Campari Milano在内的奢侈品股分别上涨1.6%和0.8%，这得益于英国品牌博柏利的季度销售额超出预期。其他显著上涨的股票包括能源股，Enel和Eni均上涨超过1%。在国内方面，意大利计划公布5月份建筑业产出和经常账户数据。本周，该指数有望小幅上涨，这是连续第二周上涨。

The FTSE MIB rose to around 40,200 on Friday, extending gains from the previous session and moving in line with its regional peers, as traders focused on corporate earnings while awaiting fresh updates on trade developments. Leonardo climbed more than 1%, following gains from Swedish defense stock Saab, which soared nearly 11% after reporting stronger-than-expected second-quarter operating income. Meanwhile, luxury stocks including Moncler and Davide Campari-Milano gained 1.6% and 0.8%, respectively, boosted by British brand Burberry’s quarterly sales beating forecasts. Other notable gainers included energy stocks, with Enel and Eni both rising more than 1%. On the domestic front, Italy is scheduled to release data on construction output and the current account for May. Over the week, the index is poised for a modest gain, marking its second consecutive weekly increase.

在米兰，富时MIB指数周四上涨366点，涨幅0.92%。普睿司曼（5.08%）、意法半导体（3.20%）和Italgas（2.50%）领涨。最大的输家是Buzzi Unicem（-3.67%）、Bper Banca（-1.55%）和Moncler（-1.25%）。

In Milan, the FTSE MIB Index gained 366 points or 0.92 percent on Thursday. Gains were led by Prysmian (5.08%), STMicroelectronics (3.20%) and Italgas (2.50%). Biggest losers were Buzzi Unicem (-3.67%), Bper Banca (-1.55%) and Moncler (-1.25%).