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Confidustria forecasts economic recovery for Italy

Confindustria has revised upward its estimates on the GDP for 2017, registering a growth by 1.3%. compared to the previous + 0.8%. According to the new forecasts of Centro Studi of Confindustria, even 2018 GDP will perform better, with an increase by 1.1 % (compared to + 1.0%). The correction compared to data of December is mainly due to new data from ISTAT (the Italian Institute of Statistics).

According to Centro Studi of Confindustria (CSC), the higher than expected growth was driven by ‘exports and investments’. As far as employment is concerned, after + 1.3 % in 2016, CSC estimates that the number of employed people will increase in a damper pace both in 2017 and 2018 (+ 0.8 % for both years). At the end of these two years, employed people will be again above the pre-crisis level (+100 thousand compared to the peak of spring 2008, + 0.5 %). As far as families’ expenditure is concerned, registering a growth by 1.3 % in 2016, CSC estimates increases by 1.2 % in 2017 and 1.1 % in 2018. Families’ consumptions are raising again from the second half year since 2013, after eight consecutive quarters of decrease (- 6.7 % accumulated). Until the first semester of 2017, they have registered a variation by 4.2 %, getting back to levels registered at the end of 2011.

Biella, 5 july 2017

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