ISTAT said Tuesday that it has
raised its growth forecast for Italy for 2017 to 1.5%, compared
to its previous forecast of a 1% increase in GDP this year, and
said unemployment was coming down.
Growth has accelerated this year after a 0.9% rise in GDP in
2016.
As a result Italy is set to register its highest growth level
since 2010.
The forecast is in line with the government's prediction of a
1.5% GDP rise this year.
The national statistics agency said it expects the Italian
economy to grow by 1.4% in 2018.
ISTAT said that it expects Italy's unemployment rate to come
down from 11.7% to 11.2% this year.
It said it saw the jobless rate dropping further, to 10.8%,
in 2018.
"We are finally in a situation in which the economy is
growing again," Premier Paolo Gentiloni said.
"And it is not jobless growth. It is very important that
Istat certifies that growth corresponds to a fall in
unemployment".
ISTAT said household spending is likely to decrease slightly
next year.
"Residential households consumption expenditure is expected
to grow by 1.4% in 2017, slowing down a bit in 2018," the
national statistics agency said.
"The positive evolution in employment and the wages increase,
that go along with constant inflation, are expected to support
households purchasing power".
It said that Italian investment levels are on the up.
"Investments are expected to strengthen the recovery both in
2017 (+3.0%) and in 2018 (+3.3%)," the statistics agency said.
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