Italy: Consumer confidence moderates more than expected in March
March 25, 2013
In March, the index of consumer sentiment published by ISTAT dropped to 85.2 points from the 86.0 points recorded in February. The reading came in below market expectations that had the index easing to 85.5 points.
The moderation was broad-based. Households turned more pessimistic regarding both the current situation and the future outlook of the general economy as well as about their current and prospective financial situation. In addition, prospects for purchases of durable goods worsened slightly compared to February.
Panellists see private consumption falling 1.8% this year, which is down 0.1 percentage points from last month's forecast. Next year, the panel sees private consumption expanding 0.1%.
Author: Armando Ciccarelli, Head of Data Solutions