Report Highlights Difficulties In Italian Grocery Retailing

Italy's largest food retailer, Coop Italia, has published a report outlining the weak state of the country's consumer sector. It highlights a lack of consumer confidence and suggests the acceleration of inflation, the weakness of the labour market and the need to consolidate public finances has eliminated the weak signs of recovery seen in early 2011. The report also highlights that more families have to draw on savings to finance consumption and that over the last 10 years purchasing power has fallen by 7%. This pessimistic description fits with our view of the Italian market, which is near the

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