The Italian economy is heading towards a new phase of weak growth, with the GDP unlikely to go beyond 1% over the year. This was communicated by the Confindustria study center in its monthly analysis. In particular, the forecasts for the current quarter see almost zero growth, after the April-June period (second quarter), thanks to a 1,6% increase in industrial production (concentrated in the first part), determined a temporary acceleration of GDP.
“Weakness of domestic demand, less strength of foreign demand, repercussions of the violent global financial turmoil and tightening of public finances” is what is looming for our country. “The OECD anticipator – explains the study center in the 'flash economic situation' – continues to fall, the PMI is in the recession zone in manufacturing and services, employment is languishing, consumption is flat, the investment context has deteriorated, exports slow down more than outlet markets. The increase in ECB rates hinders the recovery and accentuates the difficulties of debtors”. The indicators therefore “point to a new and prolonged phase of variations in GDP which will very hardly exceed 1% per year”.
