Covid hits consumption, down 4% in the first three months – Economy

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“Preliminary estimates for the first quarter of 2020 show that the measures to contain the spread of Covid-19 produced a decrease of about 4% in the average monthly expenditure compared to the same period of the previous year.” So Istat in the report on household consumption. In particular, it should be noted, “the marked reduction in retail supply and commercial demand led to a drop in expenses other than those for food and housing by more than 12% compared to the first quarter of 2019”.

According to the report, in 2019, the estimate of the average monthly expenditure of households resident in Italy is 2,560 euros per month in current values, “substantially unchanged” compared to 2018 (-0.4%) and “always far from 2011 levels ( € 2,640 per month), which was followed by two years of strong contraction not recovered in the following years “.

In real terms, considering the dynamics of inflation, the average monthly expenditure of households in 2019 dropped by 1.0%, “decreasing for the second consecutive year after the moderate positive dynamics observed from 2014 to 2017”.

A mortgage is paid for 19.7% of households living in owned homes. Almost one in five, for a total of approximately 3.7 million, Istat notes in the report on average monthly expenditure for 2019. “From an economic and accounting point of view, this budget item is an investment, and therefore does not fall in the calculation of consumer spending; nevertheless, for the families who support it, it represents – a substantial write – equal to, on average, 545 euros per month “.

18.4% of families pay a rent for the home in which they live and “the average expenditure is – it is estimated – € 412 per month at national level, higher in the Center (€ 469) and in the North (€ 457 in Northwest and 435 euros in the Northeast) compared to the South (310 euros) and the Islands (293 euros).



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https://www.ansa.it/sito/notizie/economia/aziende/2020/06/09/il-covid-colpisce-i-consumi-in-calo-del-4-nei-primi-tre-mesi-_59b941c6-e597-4c3b-8edf-d6a2509a9b4a.html

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