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Consumer spending continues to drop in January

Retailers group says communications only area to report growth

06 March, 13:18
Consumer spending continues to drop in January (ANSA) - Rome, March 6 - Consumer spending fell in January by 1.6% compared with the same period last year, retailers association Confcommercio said Thursday.

The decline is "showing clearly all of the difficulties in the Italian economy after two years of recession," the group said.

Italy has begun to slowly come out of its worst recession since the Second World War, but GDP growth this year is forecast to average only about 0.6%.

Confcommercio said that January's consumer spending was also 0.3% lower than that recorded in December.

The only increases in spending were reported in communications-related devices and services while spending fell by 2.3% in hotels and restaurants meals and 2.2% for home-related goods.

Spending on clothing and footwear slid by 2.1%.