Inflation still rising in November: 0.7% on the month and 3.8% on the year
In November, a new record for manufacturing in Italy: the PMI index rises to 62.8 points
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03 December 2021 In the two-year period 2021-2022 a sustained growth of the Italian GDP is expected: + 6.3% this year and + 4.7% next. This was announced by Istat in its Report on the prospects for the Italian economy in 2021-2022.
Investments will support the recovery with greater intensity this year (+ 15.7%) than in 2022 (+ 7.5%). Consumption by resident families and ISPs (private social institutions) will also increase (+ 5.1% and + 4.8%).
The increase in GDP, explains Istat, will mainly be determined by the contribution of domestic demand net of stocks (respectively +6.0 and +4.4 percentage points in the two years) which would be associated with a more contained contribution of demand. net foreign exchange (+0.3 percentage points in both years). Inventories, on the other hand, would provide a nil contribution. The deflator of resident household spending will increase by 1.8% this year, reflecting the current acceleration in inflation which is expected to continue into 2022 (+ 2.2%).
The scenario presented, explains Istat, takes into account the effects of the interventions envisaged by the National Recovery and Resilience Plan (Pnrr), the still expansive orientation of monetary policy and the absence of significant containment measures for related social and productive activities to the health emergency.
Employment + 6.1% in 2021 and + 4.1% in 2022
Employment in 2021-2022 (measured in terms of annual work units) will follow the improvement in economic activity with a more pronounced increase this year (+ 6.1%) compared to 2022 (+ 4.1%), according to Istat, The trend in the unemployment rate will instead reflect the progressive normalization of the labor market, with an increase in 2021 (9.6%) and a reduction in 2022 (9.3%).