(Finance) – According to Istat data released today, the consumer confidence from 98.3 to 97.4. According to the Institute of Statistics, the decline is due “mainly to a deterioration of opinions on the general economic situation and a worsening of expectations”.
Second Consumer Federation this is a figure “which unfortunately reflects the difficult situation that many families are experiencing”https://www.Finance.it/DettaglioNews/109_2024-10-25_TLB/.”Among the blow of 2,970.35 euros that families had to face in the September-November period, with consumer prices still remaining at high levels and salaries and pensions at a standstill, it would be curious if the data recorded a different climate”, added the federation in commenting on the data.
“Negative data. As we feared, in September it was only a technical rebound, a recovery, however only partial, compared to the collapse of August. Confidence, therefore, is falling again. In short, Italians do not see a rosy future, especially with respect to Italy’s problems”, he commented Maximilian Donapresident ofNational Consumers Union. “In fact, the component that marks the highest fall is that relating to expectations on the economic situation in Italy, which plummet from -29.5 to -37, with a collapse of as much as 7.5 percentage points. Even if the maneuver of the Government may have had only a marginal influence on the decline, given that the data collection takes place in the first 15 days of the month and the Government approved it on 15 October, it is clear that the announcements and rumors that preceded it have no effect on the moment convinced Italians about the effects it can have in solving their problems and those of the country in general”, added Dona.
“Evidently the government’s maneuver has not convinced consumers and businesses – the president explained CodaconsCarlo Rienzi – The news on the measures contained in the budget law which held sway throughout the month influenced the confidence index, leading to a worsening of expectations about the future of our economy”https://www.Finance.it /DettaglioNews/109_2024-10-25_TLB/.”The decline in confidence is a worrying sign because it reflects directly on consumers’ propensity to spend in the future and, therefore, on the entire economic system, slows down business investments and has negative on employment”, added Rienzi.
“The anticipations of a budget maneuver with narrow margins do not help the climate of confidence. In fact, critical signals are arriving from the economic front: the October ISTAT data for families and businesses mark a setback, highlighting a generalized trend downwards. Overall, there is a difficulty in seeing a more certain prospect of economic improvement, consistent with the actual dynamics of consumption still slowing down, despite the recovery of purchasing power underway after two years of high inflation”. As Confessors in a note.
“The signs of the cyclical fragility of the Italian economy also emerge from the confidence climates recorded for the month of October and the generalized uncertainty also implies contradictory empirical evidence: on the household side, in fact, fears of a short-term deterioration of the prospects are increasing , although the conditions actually experienced do not cause particular concerns – commented theConfcommercio Research Office –. In fact, today, it seems that families are not behaving according to the indications coming from the real economy – increase in income thanks to greater employment, contract renewals and very low inflation – but are still marked by the shocks of the recent past”.