Home » GDP, expected strong rebound in the third quarter but risks remain

GDP, expected strong rebound in the third quarter but risks remain

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ROME (ITALPRESS) – In Italy, the first loosening of anti-Covid restrictions began in April. This will lead to a small positive GDP in the second quarter, after the slight contraction in the first (-0.4%). The scenario is confirmed in which a strong rebound will occur in the third quarter, thanks to the increase in vaccinations; however, as regards their pace, which has accelerated, downside risks remain. From the imposing NG-EU plan, to the starting line, a recovery aid will arrive already in the second half of 2021. This was revealed by the Confindustria Study Center in the flash economy. In industry – continues the Csc – the PMI rose to 59.8 in March and production is estimated to grow already in the first quarter (+ 1.0%), albeit with strong sectoral heterogeneity. The crux remains, up to now, the services, where the activity is still in decline (PMI dropped to 48.6); the gradual reopening, in the coming weeks, of various tertiary activities leads us to expect a gradual return to positive territory. From February 2020 to March 2021 – observes the CSC – there are 896 thousand fewer employees. The most affected are temporary workers (-9.4%) and the self-employed (-6.6%). For the former, the effect of the blocking of layoffs is added to the greater elasticity to the economic cycle. The latter in many cases have had to stop their activity, due to restrictions in the service sectors in which they are most present. (ITALPRESS). ads / sat / com 30-Apr-21 13:25

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