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Consumer confidence in Italy at four-year high

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Consumer confidence in Italy at four-year high
Shopping photo: Claudio Zaccherini/Shutterstock
13:29 CEST+02:00
Consumer confidence in Italy has risen to the highest level since January 2010, according to the latest figures from national statistics agency, Istat, showing increasing optimism about the future of the country's economy.

In April consumer confidence in Italy rose to 105.4, the highest reading in more than four years, when the figure was 107.4, Italian news agency ANSA reported on Monday.

The figures show an increase compared to March when the reading was 101.9, which was itself the highest since June 2011. In February the reading was 97.7.

Despite Italy's unemployment hitting a record 13 percent in February, Istat said on Monday that the balance concerning unemployment expectations remained stable at 44.

These latest statistics are good news for Prime Minister Matteo Renzi’s government, suggesting the new cabinet has had a positive impact on the national mood.

Earlier this month, Renzi hailed a “structural revolution” after his cabinet approved a round of tax and spending cuts including a limit of five chauffeured cars per government ministry.

In March inflation in Italy slowed again to 0.4 percent on a 12-month basis, amid growing concern over Europe's deflation risk.

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