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Italian Household Wealth Down 2% in Real Terms Since 2012, Lagging Eurozone Peers

A First Cisl study using ECB and Eurostat data warns of sharp concentration despite only modest nominal gains.

Overview

  • From December 2012 to June 2025, Italian household wealth rose 20.6% in nominal terms but fell by about 2% after inflation.
  • Over the same period, household wealth rose 45.1% in France, 108.2% in Germany, and 66.2% across the euro area.
  • Italy’s share of euro-area household wealth declined to 16.6% in 2025 from 22.9% in 2012, with total net wealth at €10,991.5 billion.
  • Wealth is highly concentrated, with the bottom 50% holding 7.4% of assets, the top 10% 59.9%, and the top 5% 49.4%, one of the highest levels among large European countries.
  • Italian households show a lower gross saving rate at 12.3% versus 15.4% for the euro area, and First Cisl urges major investment, worker participation in firms, and mechanisms to channel savings to the real economy.