Business Update Italy’s economic indicators above the new COVID-19 wave TOU

Business Update Italy’s economic indicators above the new COVID-19 wave

 TOU

Italy’s economic indicators above the new COVID-19 wave

ROME, Jan 14 (Xinhua) – Industrial production in Italy rose above pre-epidemic levels in November, while both trade and consumer confidence remained high despite uncertainty linked to the recent wave of Covid-19 epidemics, according to official data released on Friday.

Italy’s National Statistics Institute (ISTAT) reports that improvements in industrial production data were further pushed by construction.

That trend was reflected in another report released by ISTAT on Friday, which showed that construction requests increased by 2.9 percent in the third quarter of 2021.

ISTAT said the size of planned buildings also increased by 15.5 per cent compared to the previous quarter.

ISTAT said industrial production in November was 1.9 per cent higher than the previous month. During the three-month period ending in November, industrial production grew by an average of 0.6 per cent per month.

Adjusted for seasonal factors, production increased in all major categories, according to ISTAT data, including 4.6 per cent for energy, 2 per cent for capital goods, 1.7 per cent for consumer goods and 0.8 per cent for intermediate goods.

ISTAT also said that both business and consumer confidence have been at “historically high levels”.

Despite the latest wave of coronavirus epidemics and a slowdown in the tourism and service industries associated with the new Omicron type, improving indicators are emerging.

Italy has reached multiple new heights in coronavirus infection in recent weeks, although the country’s vaccination program is the most effective in the European Union and has relatively low hospital admissions and mortality.

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