ROME--Italian consumer confidence fell in November, hitting its lowest level since February as household sentiment dropped and the current climate worsened with the country heading to its third annual economic contraction.
Italy's consumer confidence index slipped to 100.2 in November, from a slightly revised downward 101.3 reading for October, the statistics institute Istat said Wednesday.
Households took a dimmer view of their economic situation and their future savings capacity. There was also a fall in the number of households that said they were likely to buy durable goods.
On a positive note--amid a record jobless rate--Istat data showed that there were lower expectations that unemployment would rise.
Furthermore, confidence in the current economic situation rose and was stable on expectations for the future, according to the monthly survey.
Consumer confidence rose in the northeast and center of the country, while it fell in the northwest and south, Istat said.
The government expects gross domestic product to fall in 2014, for the third year in a row. GDP growth for 2015 is forecast to be modest.
Write to Liam Moloney at liam.moloney@wsj.com
(END) Dow Jones Newswires
November 26, 2014 04:50 ET (09:50 GMT)
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