Consumer sentiment rises in Italy
November 25th, 2011 - 1:55 pm ICT by IANSRome, Nov 25 (IANS/AKI) Italian consumer confidence rose in November defying an economic crisis that toppled one government and forced the new one to explore ways to implement unpopular austerity measures that will force the eurozone’s third-richest country to reel in spending and cut debt.
The sentiment index this month rose to 96.5 from a revised 93.3 in October, national statistics office Istat said in a report issued Thursday.
Silvio Berlusconi resigned from the premiership Nov 12 and was replaced by Mario Monti, an economist and former European Union competition commissioner.
Monti must calm international financial markets worries that Italy may have difficulty making interest payments on 1.9 trillion euros of debt - Europe’s second biggest and the fourth largest in the world.
Monti and his government of “technocrats” made up largely of professors, will be responsible for putting into place the previous government’s measures that include labour and pension reform and tax increases.
–IANS/AKI
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Tags: austerity measures, competition commissioner, consumer confidence, consumer sentiment, economic crisis, eurozone, interest payments, international financial markets, istat, italy rome, mario monti, National Statistics Office, pension reform, premiership, professors, sentiment index, silvio berlusconi, tax increases, technocrats, trillion