Italy Consumer Confidence July 2020

Italy

Italy: Consumer confidence weakens in July

July 24, 2020

The consumer confidence index released by the National Institute of Statistics (ISTAT) dipped from 100.7 in June to 100.0 in July.

July’s weakening was the result of deteriorations in the economic and future climate components more than offsetting improvements in the personal and current climate components. Households’ expectations over the future general economic situation worsened notably in July, as did their expectations on their own future financial conditions. On the other hand, their assessments of the current general economic situation improved somewhat, as did their expectations on future unemployment. Moreover, consumers were more willing to purchase big-ticket durable goods.

Panelists project private consumption to fall 8.9% in 2020, which is down 4.7 percentage points from last month’s forecast. For 2021, panelists see private consumption growing 5.3%.


Author: Massimo Bassetti, Senior Economist

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Italy Consumer Confidence July 20 20

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


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