ROME (MktNews) - Italian new car registrations tumbled 7.97% to 222,100 units in February compared to 241,323 units in February 2000, the Italian Ministry of Transportation reported Monday.
February's data follows year-on-year rises of 3.1% in January, 0.6% in December, 7.6% in November, 5.6% in October, and 8.9% in September.
New car registrations posted an average increase of 3.25% in 2000 over 1999.
Car registration data is watched by analysts as an indicator of consumer spending which still appears to be one of the most puzzling components of the Italian economy.
Retail sales, which are released monthly by national statistics institute ISTAT, were quite weak thoughout 2000, with an average increase of +1.4% in 2000 over 1999, while data released last week by ISTAT show private consumption growing by 2.9% on the year.