Italy: Consumer confidence surprises on the upside in February
February 22, 2011
The index of consumer sentiment published by ISTAT stepped up from 105.9 points in January to 106.4 points in February. The result came in above market analyst expectations, which saw confidence rising to just 106.0 points, and marked a recovery, albeit timid, in consumer sentiment after the index had dropped 3.2 points in January. At the current level, the index remains below its long-term average value of 113 points. Consumer sentiment improved as households have more optimistic expectations regarding the general economy in the short term, driven in particular by a rosier outlook for the labour market. Respondents to the survey judge their personal financial situation less positively, leading to deteriorating prospects for purchases of durable goods.
Author: Armando Ciccarelli, Head of Data Solutions