Italy: Consumer confidence reaches highest level since June 2011
September 25, 2013
In September, the National Institute of Statistics (Istat) consumer sentiment index rose to 101.1 points, up from the revised 98.4 points recorded in August (previously reported: 98.3 points). This was the highest reading since June 2011 and was above market expectations that saw the index inching up to 98.5 points.
Respondents to the survey were more optimistic regarding the current situation of the Italian economy. Moreover, they showed more positivity regarding both their current and future personal financial situations. Accordingly, prospects for buying durable goods improved compared to the previous month. On a negative note, households remain cautious regarding the future developments of the economy, as the indicator tracking expectations for the general economy deteriorated compared to the previous month.
Panelists see private consumption falling 2.4% this year, which is unchanged from last month's forecast. Next year, the panel sees private consumption expanding 0.2%, which is also unchanged from last month's projection.
Author: Armando Ciccarelli, Head of Data Solutions