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Italian consumption, incomes struggling to recover-ECB

Same for Spain says central bank

Italian consumption, incomes struggling to recover-ECB

Rome, August 9 - The European Central Bank said in its economic bulletin on Thursday that consumer spending and income levels are struggling to recover in Italy after the crisis. "Ten years after the start of the Great Recession private consumption in Germany and France stands about 10% higher than before it began," the ECB said. "By contrast, consumption in Italy and Spain has not yet recovered completely... "In Italy and Spain real compensation of employees remains significantly lower than before the crisis, on account of both crisis-induced wage moderation and unemployment remaining elevated".

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