Italy: Consumer confidence slumps in June
June 26, 2011
The index of consumer sentiment published by ISTAT dropped from 106.5 points in May to 105.8 points in June. The result was slightly better than expected by market analysts, which had consumer confidence falling to 105.2 points. With the June reading, consumer confidence moved further away from its long-term average of 113.0 points, after reaching its highest level since the beginning of the year in May. Consumer sentiment deteriorated as households' assessment of their financial situation moderated notably (-1.0 points). In addition, prospects for purchases of durable goods dropped markedly compared to the previous month (-7.0 points).
Author: Armando Ciccarelli, Head of Data Solutions