Italy: Consumer confidence drops to lowest level in more than two years
April 27, 2011
The index of consumer sentiment published by ISTAT dropped from a revised 105.1 points in March (previously reported: 105.2 points) to 103.7 points in April. The drop was less severe than expected, as market analysts saw consumer confidence inching down to just 105.0 points. With the April drop, consumer confidence dipped to its lowest level in more than two years and moved further below its long-term average of 113.0 points. Consumer sentiment deteriorated as households' expectations regarding the general economy in the short term worsened notably (-9.0 points). In contrast, households' judgement on their current and future personal financial situation moderated only slightly. On a positive note, prospects for purchases of durable goods improved strongly compared to the previous month (+9.0 points).
Author: Armando Ciccarelli, Head of Data Solutions