The European Commission has reduced Italy's GDP growth forecasts in 2024, now expected at 0.7%, compared to the 0.9% indicated in the November estimates.
The expectation of a GDP growth of 1.2% in 2025 has been confirmed.
The EU Commission has also revised downwards the estimates on expected growth in the Eurozone, with GDP expected to rise by 0.8% in 2024 (from +1 .2% indicated in November) and 1.2% in 2025 (from +1.6%).
In the EU, GDP is expected to grow by 0.9% in 2024 (from +1.3%) and confirmed at +1.7% in 2025.
The large stagnation in 2023 has translated into a weak momentum at the beginning of the year, explains.
The expectation is for a gradual acceleration this year.
Real wage growth and the resilience of the labor market should support a recovery in consumption.
All EU countries are now expected to see growth in both 2024 and 2025.
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