IFC International Ltd in Hong Kong comments on the Italian Economy

Top Quote Is Italy's economy out of recession, unemployment falls. End Quote
  • (1888PressRelease) July 28, 2019 - Jillian Wu of IFC International thinks “although Italy’s economy returned to growth in the first quarter of the year, it’s pulling clear of its third recession in a decade. The unemployment rate receded in March, as data showed”.

    The swift return to growth, however tepid, was hailed by the coalition government, which is struggling to keep a lid on both the budget deficit and state debt as it seeks to fulfill election campaign pledges to boost welfare spending.

    Some 60,000 jobs were created last month, while the overall employment rate climbed to 58.9 percent in March from 58.6 percent in February its highest level since April 2008.

    “The Italian economy came out of recession at the start of 2019 in better shape than expected. It is likely that the current quarter will rise,” said Wu.

    Data released last month showed that the fall in Italy’s fourth quarter GDP was primarily due to a sharp reduction in inventories, while exports, consumer and investments all expanded last year.

    Mrs. Wu said on Tuesday the first quarter data suggested the economy could beat the new forecast so long as the international context proves “favorable”.

    There is so much going on in the region that it’s hard to say what will happen later this year. “we are waiting for the rest of Europe to see what will happen here.

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