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Italy's Jan consumer confidence worsens, business confidence improves

12 Feb '23
1 min read
Pic: Shutterstock/ Tatohra
Pic: Shutterstock/ Tatohra

Italy’s economic sentiment in January provided mixed signals: consumer confidence worsened while business confidence improved for the third month in a row. The country’s harmonised index of consumer prices (HICP) decelerated in January. The positive differential with the euro area average decreased, according to the official statistical agency Istat.

The country’s seasonally- and calendar-adjusted, chained volume measure of gross domestic product (GDP) in the month decreased by 0.1 per cent with respect to the previous quarter. In 2022, the GDP growth rate was 3.9, higher than euro area average growth rate.

On the supply side, after three consecutive falls industrial production increased by 1.6 per cent in December. However, in the fourth quarter of 2022, the index decreased by 0.9 per cent with respect to the previous three months.

In December, the number of employed and unemployed people increased, while a drop was recorded for inactive persons. The employment rate grew to 60.5 per cent during that month, while the unemployment rate remained unchanged at 7.8 per cent.

ALCHEMPro News Desk (DS)

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