ISTAT on Monday revised upwards its
2017 growth forecast from 0.9% to 1.0%, saying that "a more
sustained dynamic in world trade is foreseen that should boost
exports".
Italy's GDP is recovering but there is a gap with the rest of
the EU, the national statistics agency said in its spring
forecasts.
It said Italian GDP rose 1.9% in the first quarter of 2017
while eurozone GDP rose 3.5%.
The 1.0% estimate is slightly higher than that of the
European Commission, 0.9%, and lower than that of the Italian
government, 1.1%.
ISTAT explained that GDP growth in 2017 will be "boosted by
the continuation of the expansive phase of domestic demand (1.1
percentage points)".
Therefore, it said, "household spending will supply a
significant contribution to growth, albeit at a less accentuated
intensity compared with the two previous years."
And, it added, "investments, too, will contribute in a
significant way, to the improvement in GDP with growth rates in
line with those of the previous year".
Household spending was hindered by price rises in 2017 and
only rose by 1%, ISTAT said.
The agency also said that there were risks because of
tensions on the financial markets.
Unemployment in 2017 was 11.5%, a "moderate improvement,"
ISTAT said.
It also said that a "surge" in investments was continuing,
with a 3% rise expected this year.
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