Italy continues to battle for a vision of prosperity for the country. Among many potent political issues today, new GDP numbers are likely to bring further stress onto the government.
“The OECD said Thursday that it has revised down its forecast for Italy’s GDP growth this year from 1.4% to 1.2%, citing political uncertainty as a factor,” ANSA reports. Along with political uncertainty, “higher interest rates and a slowdown in job creation are holding back consumer spending.”
The drop in expected GDP growth for this year is to transition into 2019 as well according to OECD. Their forecast for next year remains at 1.1%.