Italy: Consumer confidence rises to two-year high in July
July 25, 2013
In July, the National Institute of Statistics' (ISTAT) consumer sentiment index jumped to 97.3 points, up from the 95.8 points recorded in June. This reading was the highest in two years and contrasted market expectations that saw the index inching down slightly to 95.5 points.
The improvement was broad-based; consumers were more optimistic about the current situation in the general economy. The outlook on the country's future economic situation, however, deteriorated relative to June. Yet consumers saw their personal economic situations, both today and in the future, improving in July compared to June. Similarly, prospects for purchases of durable goods improved compared to June.
Panellists see private consumption falling 1.8% this year, which is down 0.1 percentage points from last month's forecast. Next year, the panel sees private consumption expanding 0.1%.