Italy: Consumer confidence at over two-year low in November
The consumer confidence index released by the National Institute of Statistics (ISTAT) slumped to 108.5 in November from October’s 111.5, marking the worst reading since July 2017.
November’s fall came on the back of a dive in the economic component coupled with significant deteriorations in the current and future components, while the personal component gained some ground. Households’ assessments of the current general economic situation plunged, as did their expectations on the future general economic situation, likely due to the release of Q3’s national accounts showing a protracted stagnation of the economy and the many industrial crisis striking the country. Consequently, expectations on future unemployment surged and future saving opportunities deteriorated. Moreover, consumers’ assessments of their current financial and economic situation worsened, although their expectations on their future economic situation improved somewhat.