Rome

Italian consumer household purchasing power edges up 0.5%

First quarterly increase since Q4 2010, still down 2.4% on year

Italian consumer household purchasing power edges up 0.5%

Rome, July 9 - Purchasing power in Italian consumer households increased for the first time, quarter on quarter, since the fourth quarter of 2010, the Italian statistical agency Istat revealed on Tuesday. Gross disposable income in real terms increased 0.5% in the first quarter of 2013 over the previous quarter. On an annual basis, however, gross disposable incomes of consumer households fell by 2.4% compared to the first quarter of 2012, and have lost 9.7% in real terms since the beginning of 2008. Consumer households saved at a seasonally adjusted rate of 9.3% in the first quarter of 2013, an increase of .9% compared to the previous quarter and the same period in 2012. Consumption spending contracted by 0.1% quarter on quarter, and by 1.4% compared to the first quarter of 2012.

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