Weak economy Q3, 2023 GDP up 0.7% – BoI – English

(ANSA) – ROME, NOV 13 – The Bank of Italy said Monday that
the Italian economy weakened in the third quarter and 2023 GDP
would rise by 0.7%.

   
“High-frequency indicators, while still providing a largely
incomplete picture, suggest that economic activity remains weak
in the current quarter”, said the bank’s deputy head of
economics and statistics Andrea Brandolini in a parliamentary
hearing on the 2024 budget bill, confirming the growth forecast
for this year at 0.7 per cent.

   
The macro framework outlined in the government’s economic
blueprint update NADEF, he continued, “is on the whole
consistent”, although “more difficult to achieve” in a context
of “high uncertainty” with significant downside risks due to the
conflict in the Middle East and the tightening of financing
conditions.

   

photo: BoI Governor Fabio Panetta (ANSA).