Household spending down 6.4% in first quarter

ISTAT reports purchasing power down too

(ANSA) - ROME, JUN 26 - Italian household spending fell by 6.4% in the first quarter of 2020, ISTAT said on Friday.
    The national statistics agency said the "abrupt contraction" was linked to the COVID-19 emergency containment measures.
    It said the propensity to save, on the other hand, rose to 12.5%, up 4.6 percentage points with respect to the fist quarter of 2019.
    ISTAT said the tax-to-GDP ration was 37.1% in the January-March period, up 0.5 of a point on the same period last year.
    It said households' disposable income dropped 1.6% in the first quarter compared to the previous three months and purchasing power fell even further, by 1.7%. (ANSA).


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