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Italian consumer confidence reaches highest peak since 2006
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08:20, September 29, 2009

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Italian consumer confidence in September reached its highest peak since 2006, according to data released by an Italian research institute on Monday.

The seasonally-adjusted consumer confidence index in September rose to 113.6 from 111.8 in August, a sixth consecutive monthly increase, said the Institute for Studies and Economic Analyses (ISAE).

The higher index was mainly due to improved perceptions by Italians of their country's general economic performance, said ISAE.

The released data indicated the returning of consumer confidence. The economic outlook is getting brighter, and the Italians are growing more optimistic about their country's future.

The data is the last piece of a series confirming the positive trend in Italy's economic recovery from recession.

Last week, the Italian government revised its economic forecasts on gross domestic product (GDP), predicting that a 4.8-percent contraction this year would be followed by a 0.7-percent growth in 2010 and 2.0-percent increase in 2011.

Italian Minister of Economy Giulio Tremonti said on Saturday that the country had finally "exited from general fear."


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