The Italian economy, after seven simply exceptional quarters, and in any case very out of trend compared to the pre-pandemic structural stagnation, since the end of the summer has been suffering from the decline in consumption which is triggering an inversion of the economic cycle.
In September industrial production, after the rebound in August, returned to negative territory with a drop of 1.8% on the previous month and 0.5% on an annual basis. This trend should also continue in October and November. Signs of stagnation emerged, also in September, on the side of the labor market. The modest increase in employed persons (+0.2% on the cyclical basis) has only attenuated the negative trends of the last few months: compared to June there is, in fact, a reduction of 96 thousand units. Thus Confcommercio in its Economic situation from which it emerges that in September 2022 industrial production recorded, after the recovery in August, a drop of 1.8% in economic terms. The comparison on an annual basis indicates a drop of 0.5%.
In the same month, the number of employed persons showed modest growth compared to August (+0.2%). In comparison with the same month of 2021, the change stands at 1.4%. The climate of confidence with expectations of a reduction in demand.