Rome

Italian consumer spending drops to 2004 level, say retailers

Confcommercio expects tough 2013

Italian consumer spending drops to 2004 level, say retailers

Rome, March 6 - Consumer spending in recession-hit Italy fell 2.4% in January with respect to the same month in 2012 and 0.9% compared to December, taking it below the level of late 2004, retailers association Confcommercio said in a report Wednesday. "The continuation of the crisis, which has already changed households' habits, including in terms of the quality-price ratio of their spending, has led to a general reduction in demand," the report said. The association said it fears the spending levels could get even worse. "The first year-on-year data we have for the start of 2013 shows with a certain degree of clarity that a further deterioration cannot be ruled out, confirming the impression that 2013 will also be a particularly difficult year for the Italian economy," the report said.

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