The Covid effect continues to threaten the recovery of the economy and, after the annus horribilis of 2020, a still very difficult 2021 is looming, especially in terms of precipitated consumption, at the lowest in 15 years during the lockdown. The crisis brought about by the pandemic has had a heavy impact on family budgets with an impact that continues in 2021, with compulsory expenditure that “eats” 43% of household consumption. For the house alone, between rents and utilities, 4,074 euros per capita will be spent, the highest figure since 1995. This is the alarm raised by the Confcommercio Research Office which published an analysis on compulsory household expenses between 1995 and 2020. «The economy is recovering but the damage caused by the pandemic is considerable, especially consumption which has fallen to the lowest levels of the last fifteen years. On the other hand, compulsory expenses continue to increase, in particular those relating to housing which in 2020 reached an all-time high, absorbing almost a third of total household spending – comments the president of Confcommercio, Carlo Sangalli, who warns – it is necessary to overcome the soon the health emergency with vaccines to consolidate the climate of confidence, a necessary precondition for strengthening economic growth and supporting consumption ». Despite the partial recovery of consumption in some segments in the first months of 2021, the Confcommercio Research Department points out, compulsory expenses are confirmed as the main item of expenditure, absorbing 42.8% of total consumption which, in monetary terms, means 7,291 euro per capita and among these expenses, it is those related to housing that have the greatest impact, getting to “eat” between rents, maintenance, electricity, water and gas bills, waste disposal 4.074 euros per person, the highest figure ever reached by 1995. Within marketable consumption instead (9,741 euros per capita in 2021) “the main component is represented by goods – it is specified in the analysis – with a share of total consumption equal to 40.3% (slightly down compared to 41.1% in 2020), while services recover from 15.6% in 2020 to 16.9%, the same share of expenditure for food “.
The negative impact on consumption calculated by Confcommercio for this year follows a 2020 in which the Covid effect has compressed free expenses, with services falling to 15.6% of total consumption (the minimum since 1995), and increasing compulsory expenditure (almost 44%, the highest level since 1995) reached 7,168 euros per year per capita. The analysis highlights that in this first part of 2021 there has already been an attempt, as far as possible, to try to rebalance expenses between obligated and marketable and between goods and services. A rebalancing which, however – is underlined by the association – will not take place in 2021, the year in which we will only try to recover all the possible spaces for some segments of demand, especially among marketable services. Services that are estimated to represent 16.9% of demand in terms of value in 2021. As regards marketable goods, which last year, despite a downsizing in volume, saw their incidence rise to over 41% of household spending, essentially a re-composition within it is expected in the current year. In fact, after the marked growth recorded in 2020, a stagnation in demand for domestic food is expected in the face of a recovery, albeit partial, of purchases of cars and for clothing and footwear.
Loading…