Consumer spending plunged 8% in October say retailers

Tourism-linked businesses hardest hit.

(ANSA) - ROME, 17 NOV - Retailers association Confcommercio said Tuesday that, after the strong growth registered in the third quarter following the first wave of the COVID-19 emergency, consumer spending plunged again in October, dropping 8.1% compared to the same month in 2019.
    It said tourism-linked businesses were hardest hit, with recreation services down 73.2%, hotels down 60% and bars and restaurants down 38%.
    Confcommercio forecast a 7.7% drop in Italy's GDP in November with respect to October and a 12.1% fall compared to the same time last year. (ANSA).


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