Italy: Consumer confidence deteriorates unexpectedly in January
February 25, 2014
In February, the National Institute of Statistics (Istat) consumer confidence index fell from the 98.0 points recorded in January to 97.5 points. The decrease contrasted market expectations of sentiment rising to 98.5 points.
The reading was underscored by a deterioration in Italian households' opinions regarding their current financial situations. Views on the current and future situation of the general economy, however, were less negative than they were in the previous month. Consumer pessimism regarding personal finances was reflected in more pessimistic prospects for buying durable goods compared to the previous month.
Panelists see private consumption falling 0.1% this year, which is unchanged from last month's forecast. Next year, the panel sees private consumption expanding 0.5%.
Author: Armando Ciccarelli, Head of Data Solutions