Consumer spending fell in August, say retailers

Expenditure drops 2.7% in quantitative terms

Consumer spending fell in August, say retailers

(see related story on spending power) (ANSA) - Rome, October 4 - Consumer spending fell 2.7% in quantitative terms and 0.7% in value terms in recession-hit Italy in August compared to the same month in 2011, retailers' association Confcommercio said Thursday. "The data shows that families were trying not to spend over a certain threshold, especially in the summer months, after a period of the year in which their disposable incomes registered a major drop, which translated into a net fall in demand," the association said in a report. Confcommercio said there was no evidence to suggest the trend of falling consumer spending with respect to last year will be reversed soon. It said spending on transport goods and services was hit hardest, plummeting 12.4% in August with respect to the same month in 2011. The association added, however, that overall consumer spending in August was slightly higher than it was in July this year, registering a 0.2% month-on-month increase.

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