WORLD Italy's economic indicators up amid new COVID-19 wave


Italy's economic indicators up amid new COVID-19 wave


13:19, January 15, 2022

File photo: Xinhua

ROME, Jan. 14 (Xinhua) -- Industrial production in Italy rose above pre-pandemic levels in November, while both business and consumer confidence remained high despite uncertainty tied to the latest wave of the COVID-19 pandemic, according to official figures issued on Friday.

Italy's National Statistics Institute (ISTAT) reported that improvements in data related to industrial production were pushed higher by construction.

That trend was reflected in another report, also released Friday by ISTAT, showing that construction requests grew by 2.9 percent in the third quarter of 2021.

The size of buildings planned also increased by 15.5 percent compared to the previous quarter, ISTAT said.

ISTAT said industrial production was 1.9 percent higher in November than in the previous month. For the three-month period ending in November, industrial production grew by an average of 0.6 percent per month.

Adjusted for seasonal factors, production grew in all the main categories, according to ISTAT data, including 4.6 percent in the energy sector, 2 percent for capital goods, 1.7 percent for consumer goods, and 0.8 percent for intermediate goods.

ISTAT also said that both business and consumer confidence remained at "historically high levels."

The improving indicators come despite a slowdown in tourism and service industries tied to the latest wave of the coronavirus pandemic and the new Omicron variant.

Italy has set multiple new highs in coronavirus infections in recent weeks, though the country's vaccination program remains one of the most effective in the European Union and hospitalization and mortality rates remain relatively low.

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