Federation of Italian Industrialists: The second epidemic may cause the Italian economy to shrink again in the fourth quarter.
The Italian Federation of Industrialists released a monthly analysis report on the 21st local time that Italy’s GDP may decline again in the fourth quarter of this year affected by the epidemic.
The report points out that the situation of the service industry is deteriorating, the recovery of industrial production is stagnant, domestic demand is fragile, and the level of corporate debt is rising.
Only Italy’s exports remain growing, but a second wave of epidemics may lead to another stagnation of global trade in late 2020.
In addition, employment is not optimistic.
After July and August growth, the September employment rate remained unchanged, so employment may grow negatively in the fourth quarter.