Italy: Consumer confidence recovers in May defying market expectations
May 23, 2011
The index of consumer sentiment published by ISTAT jumped from 103.7 points in April to 106.5 points in May. The result defied market analysts' expectations that saw consumer confidence inching down to 103.5 points. With the May reading, consumer confidence picked up to the highest level since the beginning of the year and edged closer to its long-term average of 113.0 points. Consumer sentiment improved as households' expectations regarding the general economy in the short term rose notably (+10.0 points). In addition, prospects for purchases of durable goods improved strongly compared to the previous month (+8.0 points).
Author: Armando Ciccarelli, Head of Data Solutions