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Confindustria Study Center: Italy’s Growth Slows in 2024, Industry ‘Convalescent’

The Confindustria study center sees “Italy’s growth slowed at the beginning of 2024”. In the monthly ‘flash’ economic analysis of the via dell’Astronomia economists “the Italian economy is supported by low inflation, increasing family confidence and growing services, while industry seems to be stabilising. However, there are various negative factors : the brake on trade flows in the Suez Canal continues, oil continues to rise in price, the rate cut is postponed again, credit to businesses remains in decline”. In this scenario “a weak GDP is expected in the first quarter of 2024”. The industry is “convalescent”.

For further information Agenzia ANSA Giorgetti: ‘There is a fair amount of vitality, strengthening growth’ – News – Ansa.it “Our economy also grew in 2023, although at a slower pace and shows a fair amount of vitality”. (HANDLE)

Domestic demand – explains Confindustria – is expected to be weak, with “more light” for consumption. There is “a marginal decline in employment, but “the medium-term trend in employment remains very positive and supports incomes”. With family confidence “rising again” in February”. “Rates and loans don’t help.” The study center directed by Alessandro Fontana detects “more shadows” on the investment front: “Credit is declining”, in February “orders from capital goods companies are decreasing”, “company sentiment has dropped”. The services sector is “in moderate expansion”, “business confidence, however, has suffered a setback, after a few months of recovery”. The industry is “convalescent”.

The new ‘real time’ index of the Confindustria research centre, Rtt, “signals an increase in turnover in industry in January (+3.2%), which suggests a recovery in production at the beginning of the year (-0.5% in fourth quarter). waiting for a stabilization of production; However, the destocking of inventories continues and the confidence of manufacturing companies falls again to low levels.”

For further information Agenzia ANSA Abi, the signs of a drop in rates are strengthening – News – Ansa.it The rate on mortgages for the purchase of a house in February fell to 3.90% (ANSA)

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2024-03-16 13:01:00
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