Italy Consumer Confidence May 2022

Italy

Italy: Consumer confidence rises in May

May 26, 2022

Consumer confidence came in at 102.7 in May, up from April's 100.0.

The rise was due to an across-the-board increase in the index. Consumers were more optimistic about their finances and the economy in the present and going forward.

ING’s Paolo Pizzoli said:

“We suspect that the rebound in consumer spirit has something to do with the government's decision to temporarily cut taxes on energy, which resulted in a sharp decline in the price of petrol at the pump over the month.”

Panelists project private consumption to increase 4.0% in 2022, which is down 0.8 percentage points from last month’s forecast. For 2023, panelists see private consumption growing 2.3%.


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Italy Consumer Confidence May 2022 0

Note: Value of monthly consumer confidence index.
Source: National Statistical Institute (Istat).


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