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Confesercenti, family spending down by 800 million in the summer

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Mps, Salvini

(ANSA) – ROME, JULY 31 – Uncertainty about the future of the economy and the rise in prices will slow down household consumption in the summer. Confesercenti affirms it according to which consumption, “after a year of growth, is preparing to return to negative territory: for the summer quarter, consumer spending is expected to drop by 800 million euros compared to last summer”. And without a slowdown in inflation, the association underlines, “the gap is destined to widen in the autumn, with a loss of -2.1 billion euros in consumption concentrated in the last quarter of the year.

A turnaround that “would further distance the recovery in consumption, now impossible to grasp before 2024: at the end of 2022, in fact, household spending would still be 36 billion below the pre-pandemic level, and also the prospects for 2023, at the moment, they are experiencing a sharp slowdown, with inflation still at 4% on the annual average “. (HANDLE).

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Source: Ansa

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