Italy: Consumer confidence at highest level in over two years in August
August 29, 2013
In August, the National Institute of Statistics (Istat) consumer sentiment index inched up to 98.3 points from the 97.3 points recorded in July. This reading was the highest since July 2011 and was above market expectations that saw the index inching up slightly to 97.8 points.
The improvement was broad-based; consumers were more optimistic about both the current situation in the general economy and the country's future economic situation. Nevertheless, consumers were less optimistic about their personal economic situations than they were in July. Consumers did, however, show more positivity regarding their future personal economic situations and prospects for purchasing durable goods also improved compared to July.
Panellists see private consumption falling 1.8% this year, which is down 0.1 percentage points from last month's forecast. Next year, the panel sees private consumption expanding 0.1%.