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GDP surprisingly grows + 0.5% in the third quarter, + 2.6% over the year. Giorgetti: ‘Optimism on growth prospects’

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A more surprising sign for the Italian GDP in the third quarter: according to Istat, the economy in the period grew by 0.5% on the previous quarter and by 2.6% on the same quarter 2021. The forecasts of the Parliamentary Budget Office, made only two weeks ago, indicated a possible drop of 0.2%.

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The growth already achieved for 2022 thus rises to 3.9% (against the 3.3% indicated by Nadef). The latest figure, although decelerating compared to the previous quarter, is the seventh consecutive positive.

“The expansionary phase of the GDP therefore continues for the seventh consecutive quarter, but decelerating compared to the second quarter of the year – explains Istat, commenting on the data for the third quarter -. As always, we note the provisional nature of this estimate, which on the production side it reflects a decline in agriculture and industry and a marked increase in services. On the demand side, there is a positive contribution from the national component (gross of inventories) and a negative contribution from the net foreign component. following a growth in imports greater than exports “.

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The “provisional figure” on GDP for the third quarter released today indicates an “increase still supported by the recovery of the services sector, the one most affected by the pandemic”. This was stated by the governor of the Bank of Italy Ignazio Visco preferring to the day of savings, arguing that growth entails “on the one hand a mechanical increase in the rise in estimates, on the other it pushes, in any case, to be cautious in indicating precise estimates in the context of great uncertainty such as the current one”.

“We need the utmost commitment to protect the economy of households and businesses from the serious emergencies of the present, in the belief that – in these years of uncertainty – it is necessary to protect the dignity and industriousness of citizens and not the logic of debt and subsidies; and that companies should be protected from price volatility and scarcity of resources, not only by ensuring the availability of liquidity, but also that this availability is accessible under conditions that are as advantageous as possible “. Economy Minister Giancarlo Giorgetti said this on World Savings Day. “It is necessary to adopt policies to rapidly combat the inflation phenomenon, capable of curbing the growth of the increase in prices, but above all such as to avoid that such growth is prolonged”, specified the minister.

“A first lens through which to look with optimism at the growth prospects of our economy in the difficult international context in which we find ourselves is connected to the implementation of the Recovery and Resilience Plan (PNRR): these huge resources, in fact, will allow us to promote ecological and digital transition, relaunch growth and improve social, territorial, generational and gender inclusion “. This was stated by the Minister of Economy Giancarlo Giorgetti on World Savings Day who, speaking of growth, underlined:” we see the situation in its positive evolution “.

Source: Ansa

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