(Teleborsa) – Istat confirmed today that production continued to grow in July, registering an increase of 0.8% over the month and 7% over the year, while the difference compared to the pre-pandemic period (February 2020) is + 1.5%. A trend – underlines the Statistical Institute in the monthly Note – which makes it possible to quantify the GDP growth to 2.7% in the second quarter.
Analysts revise estimates upwards
“We are revising our forecasts upwards of growth for the Italian GDP, now seen rebounding at a rate of at least 5.7% this year, ”he confirms Paolo Mameli, senior economist in the Studies and Research Department of Intesa Sanpaolo, commenting on the production data and explaining that “the risks are now upwards”.
“Our scenario – specifies the Intesa Sp expert – reflects an evolution of the fourth pandemic wave not such as to induce the authorities to restrictive measures comparable to those seen during the previous waves, also due to the advanced stage of the vaccination campaign)” .
Mameli, while confirming the expansionary stage of the industry, underlines that “the growth of the economy today is driven not by industry but by services, which still have ample room for recovery after the dramatic effects of the pandemic “and can” “more than compensate for any lower prospective dynamism of manufacturing and construction”.
SMEs ask for interventions on the electricity bill
“The recovery is getting stronger,” admits the CNA, which represents SMEs operating in the craft sector, while confirming a certain “concern for the upward spiral in the prices of raw materials linked to energy that can cause economic growth to lose momentum”.
For the association it is now necessary “quickly review the taxation on the structure of the bill“
Consumers are aiming for a recovery in consumption
Consumers are smiling at the numbers released by Istat. Massimiliano Dona, President of National Consumers Union speaks of “excellent data”, underlining that “there is a higher value even in comparison with the last pre-pandemic month, that is January 2020. Same tones from Carlo Rienzi, President of the Codacons, which speaks of “numbers that bode well for the recovery of consumption by households in the course of 2021”.