Monthly report on Italian economy no

Global economic perspectives, despite remaining characterised by high uncertainty, are gradually improving also because of vaccine campaigns start in many countries.

In the fourth quarter of 2020, the Italian Gross Domestic Product decreased by 2% with respect to the previous quarter and by 6.6% over the same quarter of previous year.

In the labour market, in December 2020 the number of employed persons returned to decline, whereas an increase was recorded for both inactive and unemployed people.

In January, the mitigation of energy deflationary trend and the mild recovery of service inflation reversed the dynamic of consumer price in positive territory.

Latest data on confidence showed a stabilisation. In January, consumer confidence worsening was accompanied by a moderate improvement in business climate.