Italy: Consumer confidence weakens in November
November 27, 2017
The National Institute of Statistics’ (Istat) consumer confidence index declined to 114.3 points in November, down from October’s revised 116.0 points (previously reported: 116.1) and undershot market expectations of 116.4 points.
November’s reading reflected a deterioration in consumers’ assessments of the current general economic situation as well as in their expectations about the future general economic situation. Moreover, consumers’ assessments of their personal economic situation also deteriorated, as did their expectations on unemployment. Furthermore, their outlook on the possibility to save and to buy durable goods in the future also worsened. On the other hand, their expectations on their personal future economic situation improved.
The weakening in the consumers’ assessment of the current and future economic situation of the country could be due to growing political uncertainty as next year’s elections approach. The likelihood of a hung parliament and thus of a political gridlock could be weighing on consumers’ spending, which doesn’t bode well for Christmas shopping season.