2021 will close with GDP growth of 6.2% and consumption growth of 5.1% but some sectors still record double-digit drops compared to 2019 values: for restaurants and hotels, the loss in consumption is respectively 27.3% and 35% compared to 2 years ago; for cultural and recreational services by 21.5%; 16% for transport and 10.5% for clothing and footwear. These are the data of the final balance 2021 elaborated by the Studies Office of Confcommercio which underlines how the recovery continues slower than expected and for consumption (-7.3% compared to 2019) the complete return to pre-pandemic levels will not happen before 2023.
While in 2021 compared to last year all sectors recorded net growth compared to the pre-pandemic period, consumption by Italians increased only in the food and beverage sectors (2.6%), in communications (5.6%) and in household expenses (gas, electricity and fuels 1,2). All the others register a minus sign.
“For a more robust recovery it will therefore be necessary – according to Confcommercio – to wait for more favorable macroeconomic conditions, also because the new pandemic wave, with the consequent restrictions and, above all, the inflationary acceleration triggered by the prices of raw materials, risk blocking the large potential for household consumption: the excess of forced and precautionary savings accumulated in the last two years will hardly find favorable outlets in conditions of new pandemic and inflationary uncertainty “. In this context – concludes the association – it is essential to support in particular the components of the tourism supply chain and its extensions to conviviality and culture by adopting measures on social safety nets, without increasing costs for businesses, and on access to credit, but also fiscal interventions and non-repayable contributions based on the losses incurred.
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Source From: Ansa
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