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Italy Consumer Confidence March 2022

Italy: Consumer confidence drops to over one-year low in March

Consumer confidence fell to 100.8 in March from February’s 112.4. March’s result marked the worst reading since January 2021.

The fall came on the back of a deterioration in consumers’ assessments of future conditions. In contrast, consumers’ sentiment regarding their personal conditions strengthened.

Commenting on the print, Paolo Pizzoli, senior economist for Italy and Greece at ING, noted:

“The shock of energy-driven inflation on households’ balance sheets was particularly severe, as it coincides with flat wage dynamics. Growing pessimism about the economy drove the fall and is well-reflected in sharply rising unemployment expectations and in a strong decline in durable goods purchasing intentions.”

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