The Nexi Payments Observatory (osservatorioacquisti.nexi.it) is the most comprehensive tool for monitoring how Italians spend their money and has become an important reference point for economic, industry and consumer analysis. The Observatory is at the disposal of the business community, Banks, Public Administration, the media and the consumer.
Furthermore, in 2013 Nexi launched the forecasting service on credit-card spending dynamics based on the elaboration of a four-year database of more than 60,000 series of proprietary historical data. Analysis and in-depth studies are published on the Observatory’s website.
The Italian economy is growing faster than expected thanks, above all, to an increase in household consumption. Card purchases seem to be following this trend at a higher rate than that of previous months (+5.3%), supported by e-commerce (+15.7%) and physical retail sales (+2.4%), which are back close to their high for the year.
Inflation has slowed, making the real increase even more significant, while the analysis of the daily breakdown reveals further support, which we estimate to be about 0.4%, due to an extra Friday and one less Wednesday in 2017, given that, on average, spending is higher on Fridays than on Wednesdays.
The recovery is underpinned by Hotels and restaurants, which benefited from a long holiday weekend in early June and, more in general, a good start to the tourist season. An important contribution to growth also came from the “Other Services” segment, driven by payments made to Public Administration.
Growth in Italy continues with central Italy now performing better than the northwest, while southern Italy and the islands remain close to the national average.