Monthly report on italian economy - no

At the end of the year the international environment was characterised by a gradual deceleration of inflationary pressures triggered by restrictive monetary policy and moderation in energy commodities prices.

In November, the seasonally adjusted industrial production index decreased by 0.3% compared with October. The fall was diffused to all the sectors but instrumental goods.

The number of employed and unemployed people declined moderately in November, while a marginal rise was recorded for inactive persons. Overall, the unemployment rate remained unchanged at 7.8%.

The Italian harmonised index of consumer prices (HICP) in December increased by 12.3% on annual basis, slightly decelerating from the previous month. The differential with the euro area average increased further and it is now above 3 percentage points.

The outlook for the coming months has continued to improve. In December, both consumer and business confidence improved for the second month in a row.