The international economic recovery remained uneven across countries and sectors while World merchandise trade in volume continued to grow.
In Italy, in the first quarter Gross Domestic Product (GDP) decreased by 0.4% with respect to the previous quarter. From the demand side, there was a positive contribution by the domestic components and a negative one by the net export component.
The labour market continued to show moderate improvements in a high uncertain framework especially concerning the phasing out timing of income support measures. However, firms ‘expectation on labour demand improved.
According to preliminary estimates, in April, the rate of change of the Italian consumer price index for the whole nation (NIC) was 1.1% on annual basis in acceleration from 0.8% in March.
The business confidence showed a stronger improvement than consumers’ one, remaining on the growing trend started in December 2020.