Unemployment in Italy
Italy - Unemployment
On 3 July, the European Commission (EC) announced it would not open an excessive deficit procedure for Italy, after the Italian government committed to cutting 2019’s deficit by over EUR 7 billion and to stick to EU rules in drafting the 2020 budget. Nevertheless, this does not eliminate the risk of an infringement procedure later this year; in October, the EC will examine the 2020 draft budget. Meanwhile, data for Q2 continues to point to a stagnant economy: The industrial sector performed poorly in the quarter, survey-based indicators remained weak, and credit growth was subdued. Moreover, retail trade activity was uneven in April-May. On a more positive note, the unemployment rate dropped to the lowest level since February 2012 in May, although June’s figures on the dynamics of layoffs due to corporate crisis are daunting. Higher precautionary savings could be restraining spending, moreover.Italy - Unemployment Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Unemployment Rate | 12.1 | 12.6 | 11.9 | 11.7 | 11.2 |
Italy Unemployment Chart
Source: National Statistical Institute (ISTAT)
Italy Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.54 | -0.40 % | Jul 31 |
| Exchange Rate | 1.11 | 0.65 % | Jul 31 |
| Stock Market | 21,398 | -0.99 % | Jul 31 |
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Economic News
Italy: Inflation slows to 15-month low in July
August 9, 2019
Consumer prices were unchanged from the previous month in July (previously reported: +0.1% month-on-month), following June’s 0.1% uptick, according to revised data released by the National Statistical Institute (ISTAT) on 9 August.
Italy: Industrial production goes downhill in June
August 2, 2019
Industrial contracted 0.2% in June on a month-on-month, seasonally-adjusted basis, contrasting May’s revised 1.0% increase (previously reported: -0.9% month-on-month).
Italy: The economy stagnates in Q2
August 1, 2019
In the second quarter of the year, Italy’s GDP recorded zero growth over the previous period in seasonally- and working-day adjusted terms, according to an advance estimate released by Italy’s Statistics Institute (ISTAT) on 31 July.
Italy: Operating conditions firmly in contractionary terrain at the outset of Q3
August 1, 2019
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) inched up to 48.5 in July from June’s 48.4.
Italy: Inflation at 15-month low in July
July 31, 2019
Consumer prices rose 0.1% month-on-month in July, matching June’s reading, according to provisional data released by the National Statistical Institute (ISTAT) on 31 July.
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