Economic growth in Italy is slowing,
the Bank of Italy said Friday saying it projected a GDP rise of
0.8% this year.
"In Italy economic growth is struggling to regain strength".,
said the Bank of Italy in its monthly economic bulletin
according to which "in the fourth quarter of 2024, economic
activity remained weak, affected as in the rest of the euro area
by the persistent weakness of manufacturing and the slowdown in
services".
"In our projections, drawn up as part of the Eurosystem
coordinated exercise (published in December), growth would gain
momentum over the course of this year, settling at around 1
percent on average in the three-year period 2025-27", with +0.8%
in 2025 and +1.1% in 2026.
The central bank added that US tariffs feared under new
President Donald Trump would have a "significant" effect on
Italian businesses.
A tightening of duties" by the Trump administration "would have
significant effects on Italian companies that export to the US
market, especially small and medium-sized ones"., said the Bank
of Italy which dedicates a focus to the topic in its economic
bulletin recalling how "our country is significantly exposed to
the "United States, which represents the second destination,
after Germany, of foreign sales of goods from Italy".
With the US our country boasts "a significant surplus in trade
in goods" equal to 2% of GDP, the result of exports of 53
billion and imports of only 20 billion.
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