After declining by 0.6% and 0.3% QoQ in Q1 and Q2, BOI Quarterly Economic Bulletin notes that last opinion surveys indicate that Italian growth stabilized in Q3 and should rebound in Q4.
This improvement is due to a recovery in exports which has been accompagnied by signs of more favourable investment environment. At the opposite, consumer spending continues to be held back by the weakness of disposable income in a context of rising unemployment rate.
Note that even if business surveys point to a gradual improvement in the coming months, the high dispersion of firms’ expectations concerning their own economic situation suggests the recovery is fragile and not broadly based.
The Quarterly Economic Bulletin is available here. (page 16-38)