Household spending dropped sharply in 4th quarter in Italy

ROME. KAZINFORM - ISTAT said Tuesday that Italian household spending dropped sharply in the fourth quartet of 2022 with respect to the previous three months, Kazinform cites ANSA.

The national statistics agency said expenditure on consumer durables and services fell by 1,9% and 1.5% respectively.

It said spending on non-durable items decreased by 1.3 for the third consecutive fall.

Italy's GDP dropped by 0.1% in the last quarter of 2022 with respect to the July-October period.