Italy: May Industrial Output Rebounds Thanks to Consumer Demand, but Prospects for Q3 Worsen; Inflation Under Stress On Oil Prices; Restrictive Budget to Curb 2007 Growth
Hilfe Daily Briefing › October 19, 2009
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Summary
Speaking to parliament on 13 July, finance minister Tommaso Padoa-Schioppa explained that the bulk of deficit reduction measures that parliament needs to approve by 31 December will deduct 0.3% from GDP growth in 2007, a possibility that is incorporated in the latest financial planning document whereby the government has pencilled in a growth rate of 1.2% (the consensus is for a slightly more modest 1.1%), revised down from the originally forecast 1.5%.
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Italy: May Industrial Output Rebounds Thanks to Consumer Demand, but Prospects for Q3 Worsen; Inflation Under Stress On Oil Prices; Restrictive Budget to Curb 2007 Growth
Rebound in May output, but prospects for Q3 worsening
May industrial production rose by an adjusted 0.9% from the previous month after contracting by 1.0% in April. This left the year-on-year increase at 2.9% and supports the view that Q2 industrial output may ...See the full content of this document
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