GDP, downward prospects for Italy: Istat data

” The outlook for the next few months is characterized by high downside risks such as further increases in the price system, a decline in international trade and an increase in interest rates’ ‘, communicates Istat in the’ Outlook for the economy Italian’. Even the expectations of households and businesses, according to the Institute, ” could undergo a significant deterioration ” ” We have an intertwining of contributing causes that are worrying and, inevitably, will cause the Central Bank to act in the direction of containing inflation with a interest rate review. This, in a country like ours, in which we have a high debt, will produce effects, it will hit us more intensely ”. This was stated by the Istat central director for social statistics and welfare, Cristina Freguja, in the press conference following the dissemination of the data. “The budget interventions that will have to be implemented by the government will have to be well targeted and calibrated, to increase effectiveness and contain the cost ”, he explains again. ” Italy will experience another two years of GDP growth, with strong criticalities linked to risk factors “, such as” the further reduction in international trade and the potential recovery in interest rates. These are all factors that could heavily undermine the numbers we have released today ”, declared then the Istat technician, Fabio Bacchini (head of the Service for data analysis and economic, social and environmental research), during the Press conference. ISTAT DATA – This year inflation should grow by 5.8% while in 2023 it should drop to 2.6%. These are the forecasts of Istat. ” The growth in energy prices is expected to contribute to a marked increase in the deflator of resident household spending in the current year (+ 5.8%), the effects of which are expected to subside in 2023 (+ 2.6%) ” The Italian GDP is expected to continue growing both in 2022 (+ 2.8%) and in 2023 (+ 1.9%), albeit slowing down compared to 2021. And again: unemployment is expected to decrease ” significantly this year (8.4%) and, to a lesser extent, in 2023 (8.2%) ”. The evolution of employment, measured in terms of AU, according to the Institute ” will be in line with the improvement in economic activity with a more pronounced increase in 2022 (+ 2.5%) than in 2023 (+1, 6%) ”.