New positive surprise on the growth front for Italy. In the third quarter of 2021, Italian GDP once again grew much more than expected, by 2.6% qoq, substantially in line with the previous quarter (2.7%).
The preliminary Istat estimate sees GDP growth of 2.6% for the third quarter, in line with that of the previous quarter (+ 2.7%) and which puts Italy in the running for annual growth of more than 6 percent . A growth that seems unstoppable. “The only clouds on the horizon are formed by the lack of raw materials that is spreading like wildfire” – explains Lucio Poma, chief economist of Nomisma. “In addition to copper, steel, aluminum and zinc, magnesium is also starting to lack. In addition to the shortage of semiconductors, the automotive industry is beginning to fear the shortage of passive components: magnets and capacitors. These are black and dense clouds, which only a decisive and sudden European industrial policy can dispel. It would be frustrating to be part of a country in such strong growth that it has to leave a portion of demand unexpressed because it lacks raw materials for production ”.