The evolution of household income in Italy between 1995 and 2014
In the 1995-2014 period, Italian households experienced two different phases: one of moderate growth and the other characterised by a steep fall in their economic well-being. The first ended with the financial crisis in 2007-2008, the second continued until 2012-2013. 2014 showed a reduction in the slow-down. Generally speaking however, household disposable income in 2014, in real terms, was 8.4% lower than in 1995; if corrected by household composition, the 2014 income is instead at the same level as 1995.
We are revising Italy’s GDP growth downward for 2016 and 2017…
… mainly due to weaker global growth.
Recent ECB policy measures are reducing uncertainty and supporting business confidence …
… and are expected to sustain the recovery in lending to firms, which is still subdued, as the first InFocus shows.
As in every Spring Issue, we look into medium-term projections, in this InFocus up to 2023.