Rome: Italy’s economy continues to struggle, but slowing inflation and growing consumer and business confidence are seen as precursors of a positive turn, the country’s National Statistics Institute (ISTAT) said.
After registering double-digit inflation for four consecutive months until January, inflation started to decrease in February and dropped to 8.2 per cent in March year-on-year, ISTAT added on Thursday.
The employment levels remained broadly stable, with demand for female workers and fixed-term employees down but balanced out by increased demand for male workers and the self-employed, Xinhua news agency reported.
The industrial production index decreased in February for the second consecutive month, ISTAT said. However, during the three-month period between December and February, the index was slightly higher. Industrial production is a leading factor in GDP calculations.
Despite the Ukraine crisis impact, financial uncertainties have also intensified following the collapse of two regional banks in the US, which triggered big decline in share prices for several European banks and caused the abrupt sale of the Credit Suisse bank.
Still, consumer and business confidence both improved in March, according to the statistics office. In the latter case, the March figure reversed a decline registered a month earlier. Therefore, ISTAT concluded that the “perspectives for the Italian economy remain positive”.
