Note on Italian economy

The outlook for the international economy is moderately positive but characterized by various uncertainty factors.

In May, the seasonally adjusted Italian industrial production index recorded a month-on-month increase, interrupting the downward trend of the previous two months.

Although between February and April trade in goods in value increased compared to the previous three months, the trend remained weak in comparison with the previous year.

Between March and May, the level of employment increased by an average of 0.6%, broad-based between permanent employees, self-employed workers, both sexes, and all age groups, with the exception of 25-34 year olds.

Inflation in Italy continued to be at the lowest levels among euro area countries. The Harmonized Index of Consumer Prices (HICP) in the first six months of 2024 rose by 0.9% year-on-year, 1.6 percentage points below the euro area average.

In June, business confidence deteriorated for the third consecutive month, while consumer confidence improved in all components of the index.