Heterogeneous growth between regions and downward risks continued to characterize the world economy outlook.
In the third quarter, the Eurozone economy experienced a deceleration due to German GDP contraction. The Economic Sentiment Indicator (ESI) decreased further, confirming business and consumer confidence worsening.
In Italy, the GDP decreased marginally in the third quarter due to a contraction in both gross fixed investments and private consumption. On the contrary, the net exports contributed positively to growth.
The employment stabilized on past months levels recording a re-composition, which favored full time employees. Unemployment rate increased and was complemented by a reduction in inactive persons.
Italian inflation continued to be lower than the Eurozone average but the gap is closing.
In November, both the consumer confidence and the composite indicators decreased. The leading indicator stabilized on past months minimum values confirming the business cycle weakness.