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MNI: Italy Set To Downgrade 2024 GDP Forecast In April-Sources

(MNI) ROME

Italy's economy is being hit by a German slowdown, government sources say.

The Italian government is likely revise down its 2024 economic growth projection from 1.2% to below 1% when it updates its macroeconomic framework and spending plans in April, two sources close to the government told MNI.

While it is still too early in the year to be certain, all incoming data points down, one of the sources said. “We are objectively at risk,” said the other, noting that the 1.2% projection was from early autumn, before the Hamas-Israel conflict and a weaker-than-expected performance by the German economy.

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The Italian government is likely revise down its 2024 economic growth projection from 1.2% to below 1% when it updates its macroeconomic framework and spending plans in April, two sources close to the government told MNI.

While it is still too early in the year to be certain, all incoming data points down, one of the sources said. “We are objectively at risk,” said the other, noting that the 1.2% projection was from early autumn, before the Hamas-Israel conflict and a weaker-than-expected performance by the German economy.

Keep reading...Show less