European Commission expects Italy's GDP to rise

European Commission expects Italy's GDP to rise

Rome [ENA] The European Commission revealed in its spring economic forecasts on 12th of may that it expects Italy's GDP to rise by 4.2% this year and by 4.4% in 2022. EU-supported investments should put the economy onto a path of "sustained expansion". The Commission made known Italy's public debt will continue to rise this year but should start coming down in 2022. ISTAT, Italian National Institute of Statistics, said Tuesday that the prospects for the Italian economy were positive for the coming months. The labour market continued to show moderate improvements in a highly uncertain framework especially concerning the phasing out timing of income support measures," the national statistics agency said in its monthly report on the economy.

Anyway there’s a fall in industrial production in March, which compared to the previous month sees a decrease of 0.1%. In Italy, in the first quarter Gross Domestic Product (GDP) decreased by 0.4% with respect to the previous quarter. From the demand side, there was a positive contribution by the domestic components and a negative one by the net export component. On the average in the first quarter the level of industrial production grew by 0.9% compared to the previous three months.On the other hand, there was strong growth in the annual comparison, with a rebound of 37.7 points compared to the exceptionally low levels of the corresponding month of 2020, when the first measures to close various activities were adopted,

due to the health emergency. According to ISTAT estimates the monthly seasonally adjusted index shows a marked economic increase for energy (+ 1.8%), more contained for intermediate goods (+ 0.5%) and even more reduced for capital goods (+ 0.2%); vice versa, it decreases in the consumer goods sector (-1.5%) . While on a trend basis, the greatest increases concern the manufacture of means of transport (+ 102.1%), the manufacture of electrical equipment (+ 66.4%), metallurgy and manufacture of metal products (+59.7 %), other manufacturing industries (+ 56.6%), machinery manufacturing (+ 52.4%) and the textile, clothing, leather and accessories industries (+ 51.0%) .

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