THEOECD revises growth estimates upwardsItaly. GDP in the current year will grow at a rate of 0,6% compared to the previous estimate of +0,2%. Acceleration also for next year, with the Italian economy growing by 1,3% compared to the previous estimate of 1%.
The Organization notes that the growth prospects for the main economies have improved compared to last November's forecasts even if in the short term growth dynamics remain moderate. The ECB's policy has contributed to the improvement, according to the OECD quantitative easing.
The OECD notes that "low oil prices and the effects of quantitative easing are new and positive growth factors to explain the upward revision of estimates on economic growth in the euro area". This situation represents “an opportunity for the euro area to avoid a prolonged period of stagnation, weak labor markets and too low inflation”.
Outside Italy, the OECD has slightly revised upwards the growth estimates of the main world economies, but cut those of China, Brazil, Canada and Great Britain. Confirmed the rate of expansion of American GDP to 3,1% for the current year. Improve the situation foreuro area thanks to the ECB and the price of oil with an estimate of 1,4% of GDP for 2015 compared to the 1,1% estimated in November, and +2% in 2016 from +1,7%.
Scissors instead on the prospects of Brazil. The OECD estimates a 2015 in recession for the South American country with a GDP down by 0,5% compared to the +1,5% indicated in November. Cut also on 2016 with a growth of 1,2% from the previous 2%. A slight slowdown also for the Chinese locomotive with a 2015% growth in 7 GDP compared to 7,1% in November, while +6,9% for next year has been confirmed.
Returning to Italy, in the month of February a total of 58,9 million hours were authorized cig, a decrease of 36,4% compared to February 2014, the month in which the authorized hours amounted to 92,5 million. INPS made it known. Compared to the month of January, on the other hand, the seasonally adjusted data showed a cyclical change of +7,1%, for the total of redundancy fund interventions: in January, the decrease in recourse to the Cig, compared to January 2014, was was 46,2%.
