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Italy net household wealth lower in H1-c.bank

Published 12/18/2008, 06:41 AM
Updated 12/18/2008, 06:45 AM

ROME, Dec 18 (Reuters) - The net wealth of Italian households fell slightly in real terms in the first six months of this year, mainly due to the drop in stock markets, according to a central bank report on Thursday.

Given the state of the markets, this net wealth could keep falling for the rest of the year, read the report on Italian household wealth.

"The negative trend has continued with greater strength in the following months, in connection with the international financial crisis," it said.

In current terms, the decline in stock markets led to a 6 percent fall in the financial wealth of households in the first half, it said.

Financial wealth -- such as investments in stocks and bonds -- is a component of net wealth, which also includes property and debt.

In 2007, net wealth of Italian households totalled 8.5 trillion euros, 1.7 percent higher than the previous year in real terms and 3.9 percent higher in current terms, the report said. (Reporting by Stefano Bernabei; Writing by Danilo Masoni; Editing by Victoria Main)

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