Purchases: consumer credit for Christmas in Italy.
Confirmed the growing propensity to spend of Italian consumers. An increase in November of finalized loan requests: +14.42% compared to October.
Italian families have started spending again driven by Black Friday and Cyber Monday. There was an increase in finalized loan requests: +14.42% compared to October 2022. The most numerous purchases concern smartphones, new and used vehicles, and household appliances. A slight decrease, on the other hand, concerns mortgage and personal loan applications, which respectively mark -4.11% and -4.13% compared to October 2022.
Consumer credit is divided into four categories. Personal loans are requested, not only for general liquidity needs, but also to cover the expenses that the customer declares at the time of the request. Then there are the targeted loans, installment credit cards and loans with salary or pension assignments. Mortgage rates were the first to rise.
However, the increases are also recorded in the assignment of one fifth of the salary or pension and in credit card loans. To increase the requests for a finalized loan there are the anniversaries of Black Friday and Cyber Monday. In the last week of November, Italians submitted +66.58% of loan applications taking advantage of discounts , an increase of +40.58% compared to November 2021.
By taking a picture for each region, Calabria recorded more requests for finalized loans with a +21.67%. Apulia (19.48%) and Lazio (18.45%) follow. On the mortgage front, a significant recovery in requests in Calabria (+6.67%), Sardinia (+5.57%) and Campania (+4.52%). Liguria has the lowest figure with -8.55%. Then, the negative trend for requests for personal loans continues in almost all regions.