Italian consumer confidence worsened significantly in November, reaching a new record low. Italian consumer confidence dropped from 86.2 to 84.8, while a marginal improvement was expected. The bleak economic outlook and tough austerity measures are weighing on consumers’ minds.
German (36,95 EUR, 1,65%) consumer confidence weakened in December, for the first time since the second quarter. consumer confidence dropped from a downwardly revised 6.1 to 5.9. Until December, German consumer confidence was holding up surprisingly well, but as economic growth is slowing and unemployment is rising, consumers are apparently starting to worry, which could weigh on spending towards the end of the year.