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Istat: rise in infections causes uncertainty on the economy

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«The international scenario remains characterized by a solid but heterogeneous economic recovery process between countries. However, the rise in infections is causing an increase in uncertainty associated with the evolution of the world economy “. Istat writes this in the monthly note on the economy in July. Where he recalls the strong push to GDP in the second quarter, which grew, according to the preliminary estimate, by 2.7% in economic terms, with a more accentuated dynamism than that of the other main European countries. The change acquired for 2021 is + 4.8%.

Positive signs from families

Well, as announced today, the industrial production index, net of construction, started to increase again: + 1.0% the increase both in June and in the second quarter compared to the previous one. «On the household side, there are widespread positive signs affecting the performance of the labor market and confidence. Retail sales are also up ». In July, the differential between Italian inflation and that of the euro area widened, partly due to the different timing of the Italian balances compared to the previous year. Expectations for a rise in prices are increasing.


For businesses, confidence is at its peak in recent years

In short, Istat reiterates, “the prospects for the Italian economy remain decidedly positive. For businesses, confidence is at the highest levels of recent years and the level of vacancies in industry and services has exceeded pre-crisis levels ». One fact: driven by the recovery of world trade, Italian exports and imports have shown a marked increase in recent months. Between March and May, foreign sales increased by 6.1% compared to the previous three months, and purchases from abroad by 9.4%. Both direct sales to European markets and those outside the European Union contributed to the growth of Italian exports (+ 6.1% for both). From the point of view of the type of goods exported, with the exception of energy, the sales of intermediate goods were the most dynamic (+ 7.2%), followed by those of capital goods (+ 4.7%).

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