Italian growth 1.5% in 2017

(ANSA) - Rome, November 21 - 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.