Italy: Consumer confidence reaches the highest level in nearly 3 years
March 26, 2014
The National Institute of Statistics (Istat) consumer confidence index rose from 97.7 points in February to 101.7 points in March, which marked the highest level since June 2011. The figure overshot the 98.4 points the market had expected. The reading came on the back of an improvement in households' opinion regarding their expectations for the country's general economic situation. In addition, an improvement over the previous month was recorded in households' views on their personal economic situations. Conversely, consumers' willingness to make major purchases deteriorated over February. Panelists see private consumption rising 0.1% this year, which is unchanged from last month's forecast. Next year, the panel sees private consumption expanding 0.5%.
Author: Dirina Mançellari, Senior Economist