Italy: February consumer confidence hits high not seen since 2002
February 26, 2015
The National Institute of Statistics’ (Istat) consumer confidence index jumped from 104.4 points in January to 110.9 points in February, marking the highest reading since June 2002. The result significantly overshot market expectations of the index remaining unchanged at January’s 104.4 points.
February’s strong increase reflected an improvement in almost all of the subcomponents that comprise the index. Consumers’ expectations regarding the country’s general economic situation improved notably, reaching a multi-year high. In addition, households were more upbeat regarding both their current and prospective personal economic situations. Consumers’ willingness to buy durable goods was the only category in which consumer sentiment fell compared to the previous month.
Author: Cecilia Simkievich, Economist