“Il data on GDP released today by Istat is higher than our expectations. It's too early to claim victory, but this figure is the signal of turning point impressed on the economy by government policies. Italy has entered again in an expansive cyclical phase after a long recession. With these words the Minister of the Economy, Pier Carlo Padoan, commented the data released this morning by Istat on gross domestic product for the first quarter, which ended with a 0,3% growth compared to the period October-December 2014 (this is the first positive survey of the last six quarters) and with a zero change on an annual basis.
“With the mix of reduction of cups, support for consumption, stimulus to investments and structural reforms – added Padoan in a note – we have created the conditions to seize the window of opportunity determined by the Qe and by the drop in the price of Petroleum. Let us not forget that the decisions of the ECB and those on flexibility of the European Commission were made possible by the responsible attitude of the single states in the management of the budgets and in a financial planning in balance between recovery and support for growth and employment”.
The positive result, according to the MEF, must be accompanied by other significant indicators of the state of health of the economy, such as the increase in permanent job contracts certified by Ministry of Labour e INPS and the Confindustria estimate on industrial production for April, expected to increase further in April compared to March (although at a slower pace compared to the previous month).
