Italians change spending priorities, focus on essentials

Holiday, technology expenditure cut back in recession

Italians change spending priorities, focus on essentials

(ANSA) – Rome, September 18 – Italians are spending less on 'superfluous' items such as new cars and technological goods as a result of the economic crisis but maintaining expenditure on items considered essential, a study by Italian farmers' association Coldiretti showed on Tuesday. Exactly half of Italians have reduced or eliminated their spending on holidays, 47% on leisure activities and 34% on technological items, the research said. Further, 33% of Italians have downsized, abandoned or postponed plans to buy a new car and the same percentage again have reduced or eliminated spending on cultural activities. On the other hand, the study showed that only 16% of Italians were cutting back on food purchases and just 9% were reducing expenditure on their children.

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