ISTAT, the Italian National Institute of Statistics, on Wednesday announced that the Italian economy is continuing to experience difficulty after slipping into recession in the second half of 2018.
The national statistics agency warned that households and firms confidence had deteriorated.
The warning was given in its monthly report on the economy stating amongst other things that the leading indicator decreased further confirming that the Italian economy cyclical position is still negative.
At the same time the OECD sees Italy posting negative growth this year, with GDP predicted to drop by 0.2%, after it revised down its forecasts for the economy.
In its interim economic outlook, the organization said it expects Italy’s GDP to grow by 0.5% in next year.
This means OECD had revised down its growth forecasts by 1.1 of a percentage point and by 0.4 for 2019 and 2020 respectively.
Via Il Sole 24