Yet another slowdown for Italian GDP: in March it recorded a drop of 1.7%. While the fear of inflation and bills “frightens” families
Setback for the GDP that in the month of March does register a -1.7% on February, consolidating the slowdown trend that emerged in recent months. In the annual comparison, growth should amount to 1.3%, a sharp decline compared to previous periods. To take the picture of the economic picture is Confcommercio in “March economic situation“.
On average for the first quarter the GDP it is estimated to be down by -2.4% on the previous quarter, a figure which would in any case lead to growth on an annual basis of 3.3%. But even with the full exploitation of the resources of the Pnrr, explains the report, it is unlikely that an average growth of more than 3% in 2022 will be achieved. The upward trend in inflation continues, for which Confcommercio estimates a + 0.6% on February in March, with an expected increase of 6.1% on an annual basis.
Relevant the effects on household spending who, with the same forced consumption, will spend an average of 1,826 euros more per year: 1,220 euros for electricity and gas, 320 euros for fuel, 286 euros for food and other essential goods. The price dynamics are pushed upwards by the persistence of strong tensions on the commodity markets, a trend which, even assuming an inflationary and geopolitical relaxation, according to Confcommercio, would remain at least until the summer months.
In first quarter of 2022 the Italian gross domestic product (GDP) is estimated to decrease by 2.4 per cent, while the variation in consumer prices of 0.6 per cent on the month of February should lead to an increase on an annual basis of 6.1 per cent one hundred. This is what emerges from Confcommercio’s economic analysis for the first quarter of 2022, published today.
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