Italy Consumer Confidence November 2007

Italian consumer confidence surprisingly rose to a six-month high in November. The Rome-based Isae Institute's index, which is based on a poll of 2,000 households, rose to 107.6, the highest level since May, from 107.3 last month. However if we look at the chart we will see that the index has hardly budged since September, and that we are still in comparatively low territory.




One surprising detail in this months report is that consumers are saying that they are more likely to save their money than spend it in the near future, possibly becuase they are anticipating an economic slowdown in Italy.

A sub-index measuring household confidence in the ability to save rose to 143 from 132, and another measuring the ability to put money away in the future rose to minus 76 from minus 86. On the other hand, consumers grew more negative about growth, with a gauge falling to minus 35 from minus 29.