Austerity-hit Italians avoid shops, sales drop

By Catherine Hornby – Italian retail sales fell for the fourth month running in July, data showed on Wednesday (Sep 26), highlighting how austerity measures and unemployment are discouraging shoppers and deepening a year-long recession.

With Italians buckling under the impact of a severe recession, tax hikes, falling disposable incomes and rising unemployment, the prospects for a rebound in consumer spending are looking increasingly bleak.

“The drop is generalized across all sectors,” said Paolo Mameli from Intesa Sanpaolo. “Before supermarkets and discount shops were holding up, but now they are also registering falls.” more>


Leave a Reply

Please log in using one of these methods to post your comment: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s