Italy Consumer Confidence November 2017

Italy

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.

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%.


Author: Massimo Bassetti, Economist

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Italy Consumer Confidence November 2017

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


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