Italy stagnating, Q4 almost at a standstill: Confindustria

Rome: The Italian economy is in stagnation and in the fourth quarter of 2023 GDP growth is almost at a standstill, Italy’s leading industrial association Confindustria said on Saturday.

"Inflation has come down, but the economy is weak. Industry and services are still in difficulty", but "with some light" for industry, said Confindustria in its monthly flash economic outlook.

"Interest rates will remain high for a few more months and credit is too expensive," it added. In addition, global trade and Italian exports "lack real momentum" and are weighed down by the cost of oil and gas.