Breaking News
Black Friday SALE: Up to 54% off InvestingPro! Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Italy's business lobby sees stronger economic growth, GDP up 6.1% in 2021

Economic IndicatorsOct 16, 2021 06:55AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: People sit at outdoor tables in St. Mark's Square, Venice, Italy, May 16, 2021. REUTERS/Manuel Silvestri/File Photo

ROME (Reuters) - Italy's business lobby Confindustria said on Saturday the country's growth this year would be more robust than expected, mainly due to a more contained impact of the COVID-19 Delta variant and stronger-than-expected economic indicators.

In a report, the association's research unit CSC forecast gross domestic product (GDP) would rise 6.1% this year and 4.1% next year, going above pre-pandemic levels in the first half of 2022.

In April the research unit had said Italy's GDP would be up 4.1% in 2021.

Its forecasts for this year are now just above the 6% expected by the national unity government lead by Mario Draghi.

Last year the COVID-hit economy contracted by 8.9%, the steepest recession in Italy's post-war history. The firm pick-up now in place is seen resulting in lower-than-expected public deficit and debt ratios this year.

The CSC report cautioned that, starting from the last quarter of this year, GDP growth would have a more "moderate profile".

It said that its estimates took into account Italy's multi-billion euro recovery plan, partly funded by the European Union.

It added that, despite the "positive perspectives", the forecasts had downside risks that were linked to the possibility of new COVID-19 restrictions, the lack of raw materials that could bog down production and more structural inflation.

Confindustria President Carlo Bonomi said that recovery was well underway but that it was important to "keep the guard up".

"Italy must go back to growing at a yearly pace of at least 1.5-2%, an achievable goal, equal to the annual growth registered between 1997 and 2007," he said.

Italy's business lobby sees stronger economic growth, GDP up 6.1% in 2021
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Co Gonz
Co Gonz Oct 17, 2021 9:24PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
talk is cheap
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email