Recent indicators confirm the weakness of global outlook. Moreover, there are risks that slowing growth and trade tensions, until now more concentrated on manufacturing, may soon be taking a toll also on service sector activity.
In Italy, economy continues to grow modestly. In the third quarter, Gross Domestic Product increased by 0.1% with respect to the previous quarter with a stable dynamics in comparison to the previous three quarters. GDP rose 0.3% over the same quarter of the previous year and the carry over for 2019 is now 0.2%.
The subdued economic growth started to affect the labour market and the employment rate was stable in the third quarter.
The inflation gap with respect to the euro area remained negative.
In October, the business confidence climate, improved but, in the third quarter, the number of firms considering the lack of demand an obstacle to production increased.
The steadying trend of the leading indicator continued and the latter remained consistent with a stabilization of current production levels.
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