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Italy set for biggest post-war fall in household spending

20,000 fewer shops by end of 2012, say retailers

02 August, 13:00
Italy set for biggest post-war fall in household spending (ANSA) - Rome, August 2 - This year household spending will suffer its biggest drop in recession-hit Italy in the post-war era, retailers' association Confcommercio forecast on Thursday.

The association's research department said in a report that household spending will fall 2.8%, adding that it is necessary to go back to the 1930s to find a larger decrease.

Confcommercio's Mariano Bella said retailers had been hit especially hard by the economic crisis.

He said the number of shops closing in Italy this year will be 20,000 higher than the number opening, adding, however, that this could be an "optimistic" forecast.

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