GDP Italy, Istat: “At 4.7% in 2021”

Italy’s GDP to 4.7% in 2021. Istat revises its estimates for this year upwards and forecasts a 4.4% in 2022 according to the latest report entitled ‘Prospects for the Italian economy in 2021-2022 ‘. “In the first months of the year – notes the statistical institute – the international scenario was characterized by a decisive recovery in world trade and a progressive improvement in production, albeit with heterogeneous timing and rhythms between countries”. In the two-year forecast, the increase will be determined by domestic demand and, to a lesser but significant extent, by household spending. The trend in the unemployment rate will instead reflect the gradual normalization of the labor market with an increase in the current year, equal to 9.8%, and a slight decrease in 2022 to 9.6%. The deflator of resident household spending will increase by 1.3% in the current year, driven by the rise in energy prices, and then decelerate to 1.1% in 2022.