Istat revises the 2015 GDP growth upwards: from 0,7 to 0,8 per cent. Employment grows in January but youth unemployment rises, overall stable. These are the three indications from Istat on the positive trend of the Italian economy. A result that Prime Minister Matteo Renzi immediately underlined with a comment on social networks.
GDP GROWS AGAIN
Therefore, Istat's estimates on GDP for 2015 have been revised upwards. According to the statistical institute, last year the national wealth grew by 0,8%, against 0,7% of the previous estimate. Thus, the Italian economy recorded its first increase after three consecutive years of declines and recorded the most significant growth since 2010 (+1,7%).
At the sectoral level, the added value recorded increases in volume in agriculture, forestry and fishing (3,8%), in industry in the strict sense (1,3%) and in services (0,4%), while the construction, on the other hand, recorded a decrease of 0,7%.
Expenditure for the consumption of goods also grew, up by 1,4%. In terms of consumption functions, the most marked increases are those relating to spending on transport (5,5%), education (2,7%) and recreation and culture (2,4%). Expenditure on miscellaneous goods and services decreased (-1,5%). Public administration spending fell by 0,7%, while that of private social institutions increased by 0,6%.
Matteo Renzi commented on Facebook as follows:
Warning: stinging post for owls and talks. The truth, please, about numbers. After months of editorials, chats,…
Published by Matteo Renzi su Tuesday March 1 2016
STOP UNEMPLOYMENT
Unemployment is stable in Italy. It is revealed by theistat according to which, in January, the unemployment rate it stood at 11,5% as in December, recording a figure that was practically unchanged from the month of August. On an annual basis, both the unemployed (-5,4%, equal to -169 thousand) and the inactive (-1,7%, equal to -242 thousand) decreased.
The rate goes up youth unemployment (15-24 years), which rises to 39,3% in January, the highest value since last October, up 0,7% on a monthly basis. In the annual comparison, the rate is down by 1,6%.
GROWING EMPLOYEES
Instead, the occupied in Italy. According to Istat, after the drop in December (-0,2%), in January 2016 employed persons increased by 70 thousand units (+0,3%) compared to December 2015. On an annual basis, the growth of employed persons was 1,3%. The employment rate, equal to 56,8%, grew by 0,1% compared to the previous month.
The growth is determined by permanent employees (+99 thousand on December, +426 thousand on 2015) while temporary employees decrease (-28 thousand) and the independent ones remain substantially stable. The increase in employment concerns both men and women.
“A great result. I'm happy for all these people and their families." Thus the Minister of Labour, Giuliano Poletti, comments on the Istat data on employment in January, which indicate an increase in employed persons of 70 units compared to December 2015 and of 299.000 compared to January last year. “I thank all the companies and entrepreneurs who have had faith in themselves and in the future – adds the minister – and have taken on the responsibility of promoting new jobs. Reforms are essential and the Government has made them, but without the responsible commitment of the whole national community the results would be less significant”. According to Poletti, "the commitment to give an opportunity to those who haven't had it yet, and we know very well that there are many, continues to be the goal of our work, every day".
