Monthly report on Italian economy no

High inflation driven by energy commodities prices and restrictive monetary policy characterise the international framework and put a drag on World economy growth.

In the third quarter, Italian Gross Domestic Product (GDP) increased by 0.5% with respect to the previous quarter. The carry-over annual GDP growth for 2022 is now equal to 3.9%.

In September, the seasonally adjusted industrial production index decreased by 1.8% compared with the previous month after two consecutive increases. In the third quarter the index decreased by -0.4% compared to the previous quarter.

In September, the number of both employed and unemployed people rose, while a drop was recorded for inactive people. The unemployment rate remained unchanged at 7.9%.

The Italian harmonised index of consumer prices (HICP) increased by 12.8% on annual basis. The differential with the euro area inflation widened.
The outlook for the coming months has continued to worsen. In October, the consumer confidence index decreased and marked negative signals came from the current and the personal confidence climate indices. A fall was recorded also for the business climate index.