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Global Macro-Market Outlook

Italy Outlook: Weak Consumption Weighs on Economic Recovery

By Mark Willis
Mar 18, 2011 | Last Updated
Global Economics Outlook, GDP and CPI data for Italy

  • The external sector will continue to lead Italy’s economic recovery, though the pace of growth will slacken in 2011.
  • Domestic consumption will continue to struggle due to labor market fragility, and low income growth.
  • Heightened political instability may lead to early elections in 2011, and continues to delay much-needed economic and labor market reforms.

Macroeconomic Dynamics: Export Growth Cannot Compensate for Weak Consumption

Italy remains some way off recovering its lost output of 2008-09, and a return to pre-crisis GDP levels will take another three years if the pace of[...]

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