Monthly report on Italian economy no

Risks associated to international economy outlook remain tilted to the downside. The COVID-19 outbreak has increased the probability of a World GDP strong deceleration in the coming quarters.

In Italy, in the fourth quarter of 2019, the seasonally and calendar adjusted, chained volume measure of Gross Domestic Product (GDP) decreased by 0.3% over the previous quarter.

In January, in comparison with the previous month, employment decreased, inactivity rose and the number of unemployed slightly grew while the unemployment rate remained unchanged.

According to preliminary estimates, in February the Italian consumer price index for the whole nation (NIC) decelerated further. Core inflation remained stable displaying a dynamics, which was half than that of the euro area.

In February, the consumer confidence worsened and the decrease was diffused to all its components and particularly to the future one. Differently, the business confidence climate improved marginally. The leading indicator, which does not incorporate yet the effects of the Covid-19 epidemic, continues to decrease suggesting that the economic activity will remain weak in the coming months.