Giorgia Meloni and the poor
The Italian economy slows down more than expected. The new Istat data
One strikes down new grain on the Italian economy. After the unencouraging data on employment published less than 24 hours ago, growth is also starting to falter. Against all notice, according to what Istat detects, in the second quarter of 2023 the gross domestic product (GDP), expressed in chain-linked values with the reference year 2015, corrected for calendar effects and seasonally adjusted, is in fact decreased by 0.4% compared to the previous quarter and grew by 0.4% compared to the second quarter of 2022. The acquired change in GDP for 2023 it is instead equal to 0.7%. According to Istat, the drop in GDP in the second quarter was above all domestic demand (including inventories), while foreign demand made no contribution.
The complete estimate therefore confirms the downturn in the economy, slightly more accentuated than the preliminary estimate, which had provided a reduction of 0.3%. The growth trend is down compared to the previous quarters, with a downward revision in this case too compared to the preliminary estimate, which had recorded a growth of 0.6%.
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