The EU limits Italy's GDP estimates for 2024 to 0.7%, +1.2% in 2025. Broad stagnation in 2023 carried over into weak momentum at the start of the year, it explains.
Real wage growth and labor market resilience should support a recovery in consumption. All EU countries are now expected to grow in both 2024 and 2025. The expectation of a GDP growth of 1.2%, confirmed by the EU, in 2025 is also confirmed.. The EU Commission has also revised downwards its estimates of expected growth in the Eurozone, with GDP expected to rise by 0.8% in 2024.