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Christmas on the upswing: consumption +5%

According to Confcommercio forecasts, after 7 years of decline, Italian spending at Christmas will return to a positive level, reaching 10 billion - The president of the association Carlo Sangalli: "The economic conditions are favourable, but more courage is needed to start again".

Christmas on the upswing: consumption +5%

The expenditure of Italians for the Christmas. To say it are the forecasts of Confcommercio, according to which, after seven years of crisis, Christmas 2015 will finally be positive for Italian families, who will spend 10 billion euros for gifts, equal to 166 euros per person, against 9,8 billion (equal to 158 euros per person) in 2014.

An increase that would also be explained by the growth of thirteenth, which, according to the director of the Confcommercio research office, Mariano Bella, "should grow overall by 1,6%, a fact that hasn't occurred for a long time".

The percentage of those who will give gifts is also growing, to 85,9% compared to 85,2% last year, and of those who consider them a pleasant shopping, to 52,5% against 50,6% in 2014. On the other hand, the share of those waiting for the very last days to give gifts decreased by ten percentage points. 

Although the unknown terrorism must lead to prudence, "The economic conditions - according to the president of Confcommercio Charles Sangalli – are favourable: oil, exchange rates and interest rates, and the recovery is slowly taking shape and is producing the first tangible effects on households", even if "the government has not yet won the bet to transform statistical growth into a widespread recovery and robust".

To restart the Italian economy and GDP, according to Sangalli, there is "need more courage in cutting taxes, reducing the legality deficit, cutting unproductive spending and reducing bad bureaucracy".

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