Italy: Consumer confidence steady at 16-year low
January 26, 2012
The index of consumer sentiment published by ISTAT was unchanged at December's 91.6 points. Although it remains at its lowest level since January 1996, the reading nevertheless represents a pause in the almost uninterrupted trend in place since June 2011. The result slightly undershot market expectations, which had expected sentiment to improve to 92.0 points. The January print reflected improvements in households' assessment regarding the current situation of the Italian economy, whereas short-term expectations deteriorated markedly. In addition, respondents to the survey expressed slightly more pessimistic expectations regarding their personal financial situation. Prospects for purchases of durable goods, however, rose notably compared to the previous month.
Author: Armando Ciccarelli, Head of Data Solutions