Italian consumer confidence dips, reversing 4-mnt trend

(ANSA) – Rome, October 24 – Consumer confidence in recession-hit Italy dropped in October, ending of a run of four consecutive monthly rises, Istat said Thursday.

The national statistics agency said its consumer-confidence index fell to 97.3 points this month, compared to a two-year high of 100.8 in September. Consumer confidence is important because people tend to spend less if they are pessimistic about the economic climate, which makes it harder for the economy to return to growth.