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  • Italy: Elections amid a cost of living crisis

    From economics.rabobank.com

    In the second quarter, Italy’s GDP growth of 1% q/q substantially beat consensus and pushed GDP above its pre-pandemic level (Figure 1). A breakdown into components isn’t available yet, but the statistics office stated that domestic demand was the driver, while net foreign demand made a negative contribution. This boost from domestic demand at least partly stems from the reopening of the economy. Meanwhile, the labour market has also continued to improve, with the unemployment rate (8.1%) some 1.5 percentage points below pre-pandemic levels and a record-high employment rate of 60.1%. charts Cost pressures are a ... (full story)

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Let Italian banks like ISP talk about Italy. There is only one thing that matters now: Italy has reached 74% of gas supply, one of the highest in all Europe.
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