Employment growth and contract
renewals are giving a boost to the 'thirteenth month' pay
packets that hit Italian pockets in December, retail group
Confesercenti said on an IPSOS poll Sunday.
This year, over 32 million Italian employees and pensioners will
receive the long-awaited additional monthly payment, for a total
of approximately 51.3 billion euros, 7.8% more than last year.
An injection of liquidity that will be partly absorbed by fixed
expenses, pending accounts and savings, but which should still
have a significant impact on end-of-year consumption.
Some 78% of Italians plan to use part of it for the holidays for
a total of over 18.7 billion.
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