Italian household Xmas gift budgets average under 200 euros
Confesercenti says spending down 10%-20% in some Italian regions23 December, 15:40
Even the arrival of an extra month's salary in December, a customary provision for Italian workers, failed to boost consumption, a survey by the association found.
''In the majority of regions, the arrival of the 13th month (payment) has not changed families' inclinations. In short, there wasn't the awaited push toward consumption, in part because those resources were already committed for facing other expenses like end-of-year payments,'' Confesercenti said in a statement.
Holiday sales were down 10%-20% in a number of regions, tumbling 15-20% in the Marche, 10-15% in Lombardy, and 10% in Tuscany, it said.
Spending was actually up 7% in three provinces of southern Italy's Campania region - Naples, Salerno and Caserta.
Holiday gift budgets for households fell below 100 euros in the Marche and Puglia regions, Confesercenti said.
In Piedmont, a third of consumers spent under 100 euros for gifts, while in Lombardy and Campania the average budget was 150 euros. In Liguria, Tuscany, Veneto and Lazio, gift budgets averaged 200 euros.