The Italian GDP is still slowing down, which in March recorded a -1.7% compared to February, consolidating the slowdown trend that emerged in recent months. In the annual comparison, growth should amount to 1.3%, a sharp decline compared to previous periods. Confcommercio notes this in the ‘March economic situation’. On average in the first quarter, GDP is estimated to have fallen by -2.4% on the previous quarter, a figure which would in any case lead to growth of 3.3% on an annual basis. But even with the full exploitation of the resources of the NRP – explains the report – it will be difficult to reach an average growth of more than 3% in 2022.
The upward trend in inflation continues, for which Confcommercio estimates a + 0.6% on February in March, with an expected increase of 6.1% on an annual basis. The effects on household spending are significant and, with the same compulsory consumption, they will spend an average of € 1,826 more per year: € 1,220 for electricity and gas, € 320 for fuel, € 286 for food and other essential goods. The dynamics of prices is pushed upwards by the persistence of strong tensions on the commodity markets, a trend which, even assuming an inflationary and geopolitical relaxation, according to Confcommercio, would remain at least until the summer months.
Source: Ansa
I have been working in the news industry for over 10 years now and I have worked for some of the biggest news websites in the world. My focus has always been on entertainment news, but I also cover a range of other topics. I am currently an author at Global happenings and I love writing about all things pop-culture related.
