Italy: Consumer confidence slips at the beginning of the year
February 1, 2018
The consumer confidence index released by the National Institute of Statistics (Istat) slipped to 115.5 points in January, down from a revised 116.5 points in December (previously reported: 116.6). The reading undershot market expectations of 116.3 points.
January’s reading reflected a deterioration in consumers’ assessments of their personal economic situation as well as in their expectations about the future economic situation. Moreover, consumers’ expectations on unemployment also deteriorated. On the other hand, consumers’ expectations on their personal future economic situation improved, as did their assessments on the current general economic situation and their outlook on the possibility to save.
The weakening of consumers’ assessments of the future economic situation of the country could be due to the likelihood of a political gridlock resulting from the general election to be held on 4 March.
Italy Private Consumption Forecast
FocusEconomics Consensus Forecast panelists expect private consumption to expand 1.0% in 2018, which is unchanged from last month’s forecast. For 2019, panelists see private consumption growing 0.9%.