Italy Consumer Confidence May 2017

Italy

Italy: Consumer confidence falls to an almost two and a half year low in May

May 26, 2017

The National Institute of Statistics’ (Istat) consumer confidence index dropped from April’s revised 107.4 points (previously reported: 107.5 points) to 105.4 points in May, marking the worst result since January 2015.

May’s reading reflected an almost broad-based deterioration in households’ assessments, with only their assessment on the current general economic situation remaining unchanged. Households’ assessments of the future general economic situation worsened—with unemployment expectations worsening substantially for the second consecutive month—likely due to uncertain political perspectives and the ongoing absence of a clear economic reform plan. Moreover, households grew far less optimistic regarding their current and future personal economic situation and became less willing to purchase durable goods.

Panelists expect private consumption to expand 0.8% in 2017, which is unchanged from last month’s forecast. For 2018, panelists see private consumption growing 0.9%.


Author: Massimo Bassetti, Economist

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Italy Consumer Confidence May 2017

Note: Value of monthly consumer confidence index.
Source: National Statistical Institute (Istat).


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