Italy records € 52 Bn consumption decline following spread of Coronavirus pandemic

With the closure of the manufacturing sector and the closure of the services sector, such as trade, tourism, services, transport and the professions, and with the prospect that this situation will continue even over time, the decline in consumption may amount to 52 billion euros. Confcommercio praises it as considering “the hypothesis of reopening the site only at the beginning of October realistic”.

The only growing sector is the food sector with a growth of 4.2 per cent in 2020 compared to 2019. And a collapse is expected especially for transport with 12.7 percent, hotels and restaurants with 21.6 percent.

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