ROME, Aug. 5 (Xinhua) -- The Italian economy was expected to improve, although slightly, in the second half of 2019, the National Institute of Statistics (ISTAT) said on Monday.
"The leading indicator interrupted its decreasing trend, suggesting that Italian economy will improve marginally in the coming months," the institute stated in its bulletin.
The report provided several insights on the first half of 2019, and an outlook for the second one.
In the second quarter (2Q) of 2019, the country's gross domestic product (GDP) remained stable compared to both the previous quarter and the same period of 2018, ISTAT said.
This resulted from "a decrease of value added in industry and an increase in services; from the demand side, there was a null contribution by both the domestic component and the net export component."
The seasonally adjusted industrial production index dropped by 0.2 percent in June 2019 compared to May, and decreased by 0.7 percent in the three-month period (April-June) against the previous one.
Looking at foreign trade, ISTAT said outgoing flows increased by 1.3 percent and incoming flows by 0.7 percent in May compared to April. Specific data showed exports to European Union (EU) countries rose by 1.7 percent, while those to non-EU countries by 0.8 percent.
However, "in June, the latter experienced a very strong increase (3.9 percent) in seasonally-adjusted terms," ISTAT specified.
Following a growth registered in previous months, the estimate of employed people remained stable in June, and the employment rate rose to 59.2 percent (0.1 percentage point monthly increase), reaching its highest value since 1977.
ISTAT added the number of employees grew (by some 52,000 units) for the fourth consecutive month, while that of independent workers dropped (by some 58,000 units).
The overall unemployment rate dropped to 9.7 percent in June -- the lowest since Jan. 2012 -- but "the gap with the average in the euro-currency area remained unchanged."
Considering data in July, the statistical agency provided a moderately positive outlook.
"The consumer confidence (in July) showed a strong, broad improvement, and business confidence as well displayed an improvement involving all sectors by the manufacturing one."
The recover in consumer confidence was prompted especially by "the economic component and the expectations on unemployment."
As for businesses, the confidence index reached its highest value since Oct. 2018. With regard to the manufacturing -- not joining the others on the positive confidence trend -- "assessments on orders and on production expectations improved (in July), while there was a decrease in the balance of stocks of finished goods," ISTAT said.
"The leading indicator has stopped the downward trend underway since the end of last year, suggesting a scenario of slight improvement in production levels," it specified.
