Labor market conditions remain favorable and preliminary May figures point out an increase in employment and a decline of unemployment rate standing at 7.6%. Inflationary pressure are easing with June estimates highlighting a further decrease with consumer index (NIC) standing at 6.4%, narrowing the gap with the euro area. The decline in the energy prices mainly affected the result while food prices (unprocessed food) are still a bit worrisome.
Gross households' disposable income increased by 3.2% in Q1 23 compared to the last quarter 2022 thanks to the inflation deceleration and saving rate increased in comparison to the previous three months.
Industrial production returned to growth in May (monthly base) after four consecutive declines. Although this improvement, the trend is still declining with an yearly contraction standing at 3.2%.
Italy Market Overview H1 2023
Raffaella Pinto • 01/08/2023
Despite initial expectations of recession at the beginning of the year, the Italian economy defied predictions and further expanded during the first half, GDP growth in June (Q2 23) posted a 1% increase Y/Y, and leading institutions have already upgraded year-end expectations (above 1%).
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2021 ended marking an unprecedented growth for the Italian economy, surpassing +6% increase in GDP. The fast-recovering economy, high level of Covid vaccination rate (among the highest in Europe) combined with Mario Draghi’s reliability earned us this unprecedented recognition.
Raffaella Pinto • 07/02/2022
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Italian Real Estate Overview Year End 2020
The resurgence of coronavirus cases in October led to a slowdown in the economic activity at the end of 2020 leading to a decrease in GDP in the fourth quarter, partially offsetting the sharp increase experienced in the third quarter.
Raffaella Pinto • 24/02/2021
RELATED INSIGHTS
Insights • Economy
A regular update on the commercial real estate market in Italy.
Raffaella Pinto • 23/09/2022
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Italian Real Estate Overview 2021
2021 ended marking an unprecedented growth for the Italian economy, surpassing +6% increase in GDP. The fast-recovering economy, high level of Covid vaccination rate (among the highest in Europe) combined with Mario Draghi’s reliability earned us this unprecedented recognition.
Raffaella Pinto • 07/02/2022
Insights • Economy
Italian Real Estate Overview Year End 2020
The resurgence of coronavirus cases in October led to a slowdown in the economic activity at the end of 2020 leading to a decrease in GDP in the fourth quarter, partially offsetting the sharp increase experienced in the third quarter.
Raffaella Pinto • 24/02/2021