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GDP: Confcommercio, economy worsens, -0.6% in July

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15 agreements signed between Italy and Algeria, starting with gas (ANSA)

War, tensions on raw materials, inflation and monetary tightening translate into “a progressive reduction in GDP in economic terms” and in July a decline of 0.6% is estimated over June and zero growth in the annual comparison “.

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This was stated by the Confcommercio research office, highlighting a ‘worrying climate of uncertainty’ linked to many factors, arguing that “The political crisis we are experiencing at the moment in which we draw up this note does not facilitate the propensities to consume and to invest”. In June, despite the balances, the consumption indicator stops at + 0.7% on an annual basis.

“Consumption is slowing down, inflation is growing, the conflict in Ukraine continues and worries the prospect of monetary restrictions. – underlines the president of Confcommercio, Carlo Sangalli – In this context, the political crisis risks having a heavy impact on the economic one. instead, the leadership of Draghi and an increasingly effective government action to better manage the resources of the PNRR, the budget law and the structural reforms that the country awaits “. (HANDLE).

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Source: Ansa

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