Italy: Consumer confidence hits highest level since December 2016
August 28, 2017
The National Institute of Statistics’ (Istat) consumer confidence index stormed to 110.8 points in August, up from July’s 106.9 points and comfortably beating market expectations of 106.9 points.
August’s reading reflected a broad-based improvement in all of the index’s sub-categories. Consumers’ assessments of their future general economic situation improved, as did their unemployment expectations and expectations about current personal economic situations. Notably, their expectations about future personal economic situations recorded the strongest improvement in August, rising to 114 points from 108.4 points in July.
Year-on-year quarterly economic growth has accelerated in Italy since the second quarter of 2016 and this likely contributed to consumers’ high confidence in August.
Author: Edward Gardner, Economist