in Italy theeconomic activity it would have increased slightly in the first quarter of 2023, supported by the manufacturing sector, which benefits from the decline in energy prices and the easing of bottlenecks along the supply chains.
So does the Bank of Italy in its Economic Bulletin according to which household spending would remain weak, in the face of still high inflation. Instead, capital accumulation would continue. In the first few months of the year, the dynamics of Italian exports remained positive, the current account balance returned to surplus and employment continued to rise.
On average, inflation decreased in the first quarter (to 8.2 per cent in March), but the core component increased, still feeling the effects of the transmission to final prices of the higher costs connected with the energy shocks. There salary dynamics it is confirmed as moderate; corporate profit margins increased slightly.