According to data from the Italian Statistical Office released today, Thursday, consumer confidence in Italy decreased more than anticipated in October, falling to its lowest point in almost nine and a half years.
The consumer confidence index dropped to 90.1 points this month from 94.8 points in September of last year, its lowest level since May 2013.
Analysts anticipated that the index would drop this month to 93. 8 points.
Compared to 81. 3 points in September of last year, the sub-index measuring consumer confidence in the state of the economy drastically dropped to 77. 6 points in October of this year. Additionally, the confidence index for the present circumstances dropped from 91 to 96.9 points. During the same time period, the confidence index in the economy’s future dropped from 91. 8 points to 88. 8 points.
According to statistics from the statistical office, the gathered index of business confidence decreased for the fourth consecutive month, falling to 104. 5 points in the current month from 105. 1 points in September of previous year.
The sub-index for manufacturing enterprises dropped to 100.4 points in the current month from 101.2 points in September of last year. Analysts anticipated a drop in the index to 100 points.
The construction sector’s confidence index fell to 157.
The retail sector index decreased from 110. 5 points to 108. 7 points during the same period, down from 159. 5 points over the previous month to 158. 5 points this month.
Italy’s consumer confidence is at its lowest point since 2013.
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