Italy business lobby sees 10% GDP contraction this year, 'partial' rebound in 2021

Updated: Oct 10, 2020

Italy's business lobby Confindustria said on Saturday it saw just a "partial" rebound for the country's gross domestic product (GDP) in 2021 after an expected 10% contraction this year, as the coronavirus epidemic still loomed. Confindustria's research unit CSC said a recent spike in new COVID-19 cases was a source of uncertainty and a cause for expected economic weakness in the last quarter of this year. "A recovery of GDP should restart in a gradual fashion from start-2021, on the condition that the COVID-19 spread is contained in an effective way," it said.

CSC estimates Italian GDP to grow 4.8% next year. However such projection does not include the effects of Rome's next budget manoeuvre and resources made available by the European union, it said.

Daily new coronavirus infections on Friday topped 5,000 for the first time since March. Italian GDP, hit by one of the world's strictest coronavirus lockdowns between March and May, shrank by 13% in the second quarter from the previous three months, the steepest GDP fall since national statistic bureau ISTAT's current series began in 1995. Italy's government expects its coronavirus-hit economy to shrink by 9% this year and to grow 6% in 2021, according to its latest macroeconomic and public finance projections issued last month.

8 views0 comments
  • Instagram
  • Facebook
  • Twitter
  • LinkedIn


Caution: Trading involves the possibility of financial loss. Only trade with money that you are prepared to lose, you must recognise that for factors outside your control you may lose all of the money in your trading account. TheForexCentre Ltd and its representatives take no responsibility for loss incurred as a result of trading. By signing up as a member you acknowledge that we are not providing financial advice. We have no knowledge on the level of money you are trading with or the level of risk you are taking with each trade. You must make your own financial decisions, we take no responsibility for money made or lost as a result of advice on Forex related products on this website. 

TheForexCentre Ltd and its representatives are not responsible for your actions. You are solely responsible for your own moves and decisions and the evaluation and use of our products and services should be based on your own due diligence. You agree that TheForexCentre Ltd and its representative's programs are not liable to you in any way for your results in using our products and services.


We are not financial advisers. ​​

© 2018-2020 TheForexCentre Ltd. All Rights Reserved