(ANSA) – ROME, JUN 18 – Italian consumer spending fell 11.7% last year retail group Confcommercio said Friday.
This amounted to a drop in spending of over 126 billion euros, it said.
It was the biggest drop since the Second World War.
Much of the drop was due to a 60.4% reduction in spending by foreign tourists, Confcommercio said.
The drop was around 27 billion euros, of which 23 mainly concentrated in the centre and north of Italy, with Lazio and Tuscany leading the way, the association said.
Consumer spending last year showed a per capita fall of over 2,000 euros a head compared to 2019, taking spending back to its 1995 level.
Spending will rise by an estimated 3.8% this year, the group added.
But forecasts would have to remain “very cautious” especially due to doubts about how far, and when, international tourism will start rising again.
Consumer group Codacons said the figures showed that each Italian household had lost over 4,800 euros last year.
The UNC group called the data “catastrophic”, saying they were worst than those recently provided by stats agency ISTAT.
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