Italy: Consumer confidence rises to four-month high in February
February 22, 2013
In February, the index of consumer sentiment published by ISTAT jumped to 86.0 points from the 84.7 points recorded in January. The increase defied market expectations that had the index inching down to 84.6 points. As a result, the index now sits at its highest level since October 2012.
The improvement was broad-based. Households turned more optimistic regarding both the current situation and the future outlook of the general economy as well as about their current and prospective financial situation. In contrast, prospects for purchases of durable goods worsened slightly compared to January.
Panellists see private consumption falling 1.7% 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