Istat: growth will slow again. But Padoan is optimistic – the Journal

The growth is there but it is so slow that it seems a snail. Not easy to make jokes or irony. Are to Istat, unfortunately, to highlight it without any shadow of doubt: “The Italian economy continues to grow at a moderate pace, characterized by the consolidation of the positive contribution of domestic demand to GDP growth” . It detects the statistical office in the monthly note of May on the progress of the national economy. “The main engine of growth – the document reads – is made up of consumption that is also accompanied by an improvement of the investment . If there are some signs of weakness the expectations of business and manufacturing orders, the composite leading indicator Italian economy has marked a further decline, suggesting the slowdown in the pace of growth in economic activity in the short term. “

Padoan minimizes: as isolated

Economy Minister Pier Carlo Padoan, the end of the conference ‘Making House’ on the indicator anticipates widespread Istat today . “There is a weakening of expectations but we await the final data, we continue to be hopeful. It is’ a given isolated” and in any case “Italy is better than the other countries.”

The employment data

In May, notes the Istat, the expectations formulated by the employers on employment trends for the next three months have improved in services in the face of an overall deterioration in the other sectors. The precise Istat that the increases in contractual wages per capita remains very small (in April marked a trend of 0.6%) growth in a context of reduction of the level of consumer prices. In April, it is still read, the increase in employment affected both men (+ 0.3% on-month) and women (+ 0.1%). The increase involved employees on a permanent basis (+ 0.2%, 35 000 employees in more), compared to a broadly stable than completed ones. The unemployment rate started to rise, to 11.7%, as a result of the growth in female unemployment at 12.8% due to the increase in the number of women seeking employment (+ 4.2% in one month) corresponding to a decline of inactive (-0.8%).