Rome

Italian retailers say spending nosedive has stopped

But Confcommercio warns recovery is 'distant'

Italian retailers say spending nosedive has stopped

Rome, September 5 - Retailers association Confcommercio said Thursday that the collapse in consumer spending has bottomed out, a sign that Italy may be emerging from its longest recession in over two decades. But the association also warned that a recovery in spending levels was still "distant". Confcommercio said its consumer-spending index was flat in July with respect to June. It also stressed, however, that the level of expenditure in July was 2% down on the same month in 2012. It added that spending was down 3.7% in the first seven months of the year.

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