Italy’s Recovery In Peril? Consumer Sentiment Plunged In October (EWI)

Share This Article
November 27, 2017 6:18am NYSE:EWI

The iShares MSCI Italy Index ETF (EWI) has posted a solid recovery in 2017 following a few years of underperformance, but some recent economic data may be pointing to a cooling off period for the European nation.


As Bloomberg reports today, a key measure of economic confidence unexpectedly declined last month in Italy:

The household sentiment dropped to 114.3 from a revised 116.0 in October, statistics agency Istat said Monday in Rome. The median estimate in a Bloomberg survey of 12 analysts called for a November reading of 116.5.

“It’s bad news ahead of Christmas,” said Massimiliano Dona, head of the National Consumer Association. “The worsening views of the household budgets and of the intentions for durable-good purchases don’t lead us to be optimistic with regard to the shopping season.”

The data is surprising given the fact that Italy’s economy has risen for 13 straight quarters following the country’s longest recession in several decades. Despite the steady rebound, analysts still see Italy posting the weakest economic growth rate in the EU through 2019.

The iShares MSCI Italy Index ETF (EWI) was unchanged in premarket trading Monday. Year-to-date, EWI has gained 30.98%, versus a 17.55% rise in the benchmark S&P 500 index during the same period.

EWI currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #15 of 93 ETFs in the European Equities ETFs category.


9 "Must Own" Growth Stocks For 2019

Read Next



Get Free Updates

Join over 50,000 investors who get the latest news from ETFDailyNews.com!

Most Popular



Explore More from ETFDailyNews.com

Free Daily Newsletter

Get daily ETF insights from our market experts. Never miss another important market development again!

ETFDailyNews.com respects your privacy.

Best ETFs

We've rated and ranked nearly 2,000 ETFs and ETNs using our proprietary SMART Grade system.

View Top Rated ETFs

Best Categories

We've ranked dozens of ETF categories based on relative performance.

Best ETF Categories