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Italian economy could be set to slow down - ISTAT

Manufacturing activity, consumer confidence may fall - agency

(ANSA) - ROME, AUG 5 - After accelerating sharply in the second-quarter, the Italian economy may slow down in the coming months, ISTAT said on Friday.
    The national statistics agency cited possible drops in manufacturing activity and consumer confidence, high inflation and an increase in Italy's trade deficit as downside risks in its monthly report on the economic outlook.
    "Signals of economic growth deceleration and higher and more diffused inflation across countries and sectors characterise the current international framework," ISTAT said.
    "In the second quarter, the Italian GDP increased by 1% with respect to the previous quarter.
    "The GDP carry-over for 2022 is now 3.4%.
    "In June, the industrial production index decreased for the second time in a row by 2.1% compared with the previous month.
    "Driven by the buoyant economic activity, in June, the number of employed persons increased, while unemployed and inactive people decreased.
    "The unemployment rate remained stable at 8.1%.
    "According to preliminary estimates, in July the rate of change of the Italian consumer price index for the whole nation (NIC) was 7.9% on annual basis (from +8.0% in June).
    "Surveys results are mixed with an increase in the confidence in constructions and a worsening in manufacturing sector and among consumers". (ANSA).


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