Italy: Consumer confidence broadly unchanged in September
The consumer confidence index released by the National Institute of Statistics (ISTAT) ticked up to 112.2 points in September from August’s 111.9 points.
September’s uptick came on the back of improvements in the personal and future components, while the economic component lost ground, and the current component remained steady. Consumers’ expectations on the future general economic situation improved significantly, likely due to the formation of a more Europhile government coalition and the associated increased likelihood of an agreement with EU institutions on the oncoming 2020 budget. Additionally, some marginal improvements were recorded in households’ assessments of their current financial and economic situation, as well in their expectations on their future financial and economic situation. Moreover, households’ assessments of current and future saving opportunities improved. On the flip side, their willingness to buy big-ticket items weakened and, also significant, households’ assessments of the current general economic situation plunged, hinting at worsening short-term prospects.