Italy: Consumer confidence further increases in October
October 26, 2017
The National Institute of Statistics’ (Istat) consumer confidence index rose to 116.1 points in October, up from September’s revised 115.6 points (previously reported: 115.5) and comfortably beating market expectations of 114.9 points.
October’s reading reflected an improvement in consumers’ assessments of their current and future personal economic situation, as well as their improved assessment of the possibility to save now. On the other hand, their perspectives of the country’s current and future economic situation deteriorated, as did their outlook on the possibility to save in the future.
The improvement in the consumers’ assessment of their personal situation could be due to the steady but moderate recovery the country is currently experiencing. Nevertheless, the difficult financial situation the banking sector is undergoing and the likely prospect of a hung parliament resulting from next year’s general elections are sufficient reasons to take a skeptical view of the country’s situation.