Italy's growth continues in the second quarter but at a more moderate pace, driven by services, while the situation of industry and construction is less solid. Inflation is persistent as expected, interest rates go up and loans go down. Mixed signals are coming from consumption, while investments are growing, even if only slightly. In general, there is weakness on the Eurozone front, while industry is picking up again in the USA. China slows down, India grows. This is what emerges from the monthly analysis of the economic situation carried out by the Confindustria study centre.