Finance Minister Tommaso Padoa-Schioppa has just forecast 2% growth for the whole year 2006. After a slowdown to 0.3% in the third quarter (which may, of course, be about to be revised upwards) it seems he is expecting some real heavy lifting in the fourth quarter. We will see.
``The economy is recovering,'' Padoa-Schioppa told reporters after a meeting of euro-region finance ministers in Brussels. ``The problem is for that to turn into growth. That is something that lasts for years and not something that lasts just one economic trend.'' Padoa-Schioppa forecast growth to near 2 percent in 2006.
Italy's latest growth forecast had indicated the $1.8 trillion economy would expand 1.6 percent this year and 1.3 percent in 2007. Italy has lagged behind the average growth of its euro region partners for more than a decade and will continue to do so through 2008, according to the European Commission.
Italy Economy Real Time Data Charts
Edward Hugh is only able to update this blog from time to time, but he does run a lively Twitter account with plenty of Italy related comment. He also maintains a collection of constantly updated Italy economy charts together with short text updates on a Storify dedicated page Italy - Lost in Stagnation?