Growth is good, but Confindustria sees clouds on the horizon

The enthusiasm for Italy’s growth in the first quarter of this year (up 0.6 per cent, higher than France, Germany and even the United States) is destined to be short-lived. The Confindustria study center predicts that GDP could slow down in the second quarter because, in essence, manufacturing and construction hinder the positive contribution offered by the services sector, which is still benefiting from the pent-up household demand after Covid. Furthermore, according to the study center of industrialists, the drop in the price of gas is a powerful positive push, but consumption remains held back by inflation, investments by the cost of credit and exports by the global slowdown. In short, we are moving towards an adjustment in growth due to a series of factors, but the bottom line is that the various sectors of the economy do not march at the same pace: in the face of a tertiary sector that continues to be solid, industry and construction mark time. What are the reasons?