Italy's biz confidence worsens in Feb, consumer confidence grows

15 Mar '24

1 min read

Pic: Adobe Stock

Insights

Italy recorded an average GDP growth of 0.9 per cent last year, decelerating compared to 2022, but with greater dynamism than the euro area average, statistics show.
Business confidence in the country worsened in February this year, while consumer confidence continued to grow, reaching its highest level since June 2023.
Foreign trade dropped in Q4 2023.

The Italian economy recorded an average gross domestic product (GDP) growth of 0.9 per cent last year, decelerating compared to 2022, but with greater dynamism than the euro area average, according to official statistical agency Istat.

Business confidence in the country worsened in February this year, while consumer confidence continued to grow and reached its highest level since June 2023.

In the fourth quarter (Q4) last year, the value added of the manufacturing industry showed a substantial stability.

The country’s foreign trade—both exports and imports—displayed a decreasing trend in Q4 2023.

Employment fell again in January after six months. The decrease involved only men and individuals under 35 years. Employment fell among temporary employees and self-employed workers. Unemployment rate stabilised at 7.2 per cent.

Since October 2023, the growth rate of the harmonized index of consumer prices in Italy, the only one among the four major euro area countries, has fallen below 2 per cent, well below the euro area average.

Fibre2Fashion News Desk (DS)

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