Italia economy maybe shrunk in Third quarter It will continue to contract until mid-2023, according to Treasury forecasts that will lead to a bleak reading for Giorgia Meloni, the right-wing leader expected to be named prime minister This month.
Forecasts point to the third largest in the Eurozone economy hit By rising energy costs and record high inflation already in early stages of A recession, widely defined as two consecutive quarters of declining Gross Domestic Production.
Growth was stronger than expected in The first half of The year GDP jumped 1.1% in The second quarter From the previous three months, but the Treasury Economic and Financial Document (DEF) has been published. on On Friday he said deflation already I started.
slack already new in monthly data. About 74,000 jobs lost in August , second respectively declineaccording to statistics bureau ISTAT, which also recorded sharp drop in consumer and business moral in September.
On Monday, the closely watched S&P Global Purchasing Managers’ Index (PMI) in Italy showed the manufacturing sector contracted. for The third month in a row in September, albeit somewhat less than expected.
Meloni, who Led a right-wing coalition to victory in 25 September elections in Italy, under negotiation with its allies to form a cabinet, with The role of economy minister It is widely regarded as the most important and most difficult position to fill.
Names cited frequently in Italian media Include the European Central Bank (ECB) board Member Fabio Panetta and CEO of Morgan Stanley Domenico Siniscalco, who already He held this position for 18 years.
However, the Panetta made clear He’s not interested in Political sources told Reuters that Meloni had not contacted the post and Siniscalco.
One of Sources said Meloni was not keen on Siniscalco.
The prime-minister-in-Wait not expected to take office for At least three weeks, giving her time to find the right candidate.
The Treasury estimated the GDP readings as “slightly negative.” in The weight of both the third and fourth quarters down by contractions in Industrial sector.
“For more decline in GDP expected for The first quarter (of next year) followed by a pickup truck from second quarter stated in the DEF document.
I expected recovery led by rise in international demanddrop in Gas prices and a growing contribution to GDP from the EU pandemic recovery The money and reforms implemented by Italy in return for receive them.
However, DEF has shown that Italy will do so spend About 13 billion euros ($12.62 billion) less than this year of European Union recovery More than it previously targeted, underlining the country problems in Investment Execution programs.
DEF, which main Figures were released earlier last week, lump next year’s full-year Gross domestic product growth It is expected to reach 0.6% from the expected 2.4% in April.
Italia economy maybe shrunk in Third quarter It will continue to contract until mid-2023, according to Treasury forecasts that will lead to a bleak reading for Giorgia Meloni, the right-wing leader expected to be named prime minister This month.
Forecasts point to the third largest in the Eurozone economy hit By rising energy costs and record high inflation already in early stages of A recession, widely defined as two consecutive quarters of declining Gross Domestic Production.
Growth was stronger than expected in The first half of The year GDP jumped 1.1% in The second quarter From the previous three months, but the Treasury Economic and Financial Document (DEF) has been published. on On Friday he said deflation already I started.
slack already new in monthly data. About 74,000 jobs lost in August , second respectively declineaccording to statistics bureau ISTAT, which also recorded sharp drop in consumer and business moral in September.
On Monday, the closely watched S&P Global Purchasing Managers’ Index (PMI) in Italy showed the manufacturing sector contracted. for The third month in a row in September, albeit somewhat less than expected.
Meloni, who Led a right-wing coalition to victory in 25 September elections in Italy, under negotiation with its allies to form a cabinet, with The role of economy minister It is widely regarded as the most important and most difficult position to fill.
Names cited frequently in Italian media Include the European Central Bank (ECB) board Member Fabio Panetta and CEO of Morgan Stanley Domenico Siniscalco, who already He held this position for 18 years.
However, the Panetta made clear He’s not interested in Political sources told Reuters that Meloni had not contacted the post and Siniscalco.
One of Sources said Meloni was not keen on Siniscalco.
The prime-minister-in-Wait not expected to take office for At least three weeks, giving her time to find the right candidate.
The Treasury estimated the GDP readings as “slightly negative.” in The weight of both the third and fourth quarters down by contractions in Industrial sector.
“For more decline in GDP expected for The first quarter (of next year) followed by a pickup truck from second quarter stated in the DEF document.
I expected recovery led by rise in international demanddrop in Gas prices and a growing contribution to GDP from the EU pandemic recovery The money and reforms implemented by Italy in return for receive them.
However, DEF has shown that Italy will do so spend About 13 billion euros ($12.62 billion) less than this year of European Union recovery More than it previously targeted, underlining the country problems in Investment Execution programs.
DEF, which main Figures were released earlier last week, lump next year’s full-year Gross domestic product growth It is expected to reach 0.6% from the expected 2.4% in April.