Italy’s GDP to rise 1.2% this year, 1.1% in 2024 – Istat

ROME. KAZINFORM - Istat said Tuesday that it expects Italy's GDP to rise by 1.2% this year and by 1.1% in 2024, ANSA reports.

The national statistics agency said in its report on Italy's Economic Outlook for 2023-24 that household consumer spending should rise by 0.5% this year and 1.1% next thanks to a lower inflation, higher wages and an improvement in the labour market.

«The improvement in employment will be accompanied by a decline in the unemployment rate to 7.9% this year and 7.7% the following year,» Istat said.