Italy: Consumer confidence surprisingly rises in November
November 24, 2011
The index of consumer sentiment published by ISTAT rose from 93.3 points in October (previously reported: 94.2 points) to 96.5 points in November, recovering from what was a more than three-year low. The result marked the first pick-up in the index in the last six months and surprised market analysts, who had expected sentiment to drop to 92.4 points. The November print reflected strong improvements on households' expectations regarding the general economy, which rose by 24 points. In addition, respondents to the survey have more optimistic expectations regarding their personal financial situation (+1.0 points), leading to better prospects for purchases of durable goods compared to the previous month (+7.0 points).
Author: Armando Ciccarelli, Head of Data Solutions