Lunedì, 22 Ottobre 2018

Consumer spending drops in September amid ongoing crisis


Rome, November 8 - Consumer spending fell by 4.2%
in quantitative terms and by 2.8% in value terms in September
compared to the same month in 2011, retailers' association
Confcommercio said on Thursday.
Italians cut back particularly on transport and food, drink
and tobacco, with Confcommercio's consumer spending index
respectively registering a drop of 20.5% and 5.7% in
quantitative terms and of 10.6% and 2.8% in value terms compared
to September last year.
'The progressive decline in disposable income, linked to
the continuation of a negative economic situation, compounded by
continual tax increases, has presumably led families to adopt
extremely cautious spending models,' Confcommercio said.
'Overall in the period January-September 2012 the index
registered a fall of 2.7% compared to the first nine months of
2011, confirming that 2012 will be characterised by an
exceptional drop in real consumption'.
Consumer associations Federconsumatori and Adusbef said
that 'the figures had been predicted for months' and anticipated
a 5% drop in consumer spending by the end of the year.
Italian farmers' confederation Cia said 'two out of three
families only make it to the end of the month by cutting back on
spending, including food'.
Likewise Codacons said 'at least one third of Italian
families are no longer able to buy all the food they need. Such
low levels of pro capita food consumption haven't occurred since
the 1970s'.

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