Bank of Italy sees GDP expanding by 0.3% in 2019

According to Reuters, Bank of Italy recently announced that it expects the real GDP to expand by 0.3% in 2019 driven by consumer spending and exports.

Key takeaways (via Reuters)

• Sees Italian GDP expansion of 0.7% in 2020, 0.9% in 2021.
• New estimates are below January forecasts mainly due to weaker foreign demand and ongoing high uncertainty among companies.
• GDP expansion driven by consumer spending and exports while investments expected to remain weak.
• Growth projections subject to high risks due to trade tensions and financial markets' reaction to Italian budget policies.
• Cuts inflation forecasts to 0.8% in 2019, 1% in 2020 and 1.5% in 2021.