Italian industrialists: Italy’s development at risk due to rising costs and shortages

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Taly’s industrial output may have fallen for a second month in January due to rising energy costs and supply shortages, putting economic growth at “serious risk”, the Confindustria employers’ lobby said, according to Bloomberg.

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Industrial production fell about 1.3% in January compared to the previous month, after falling 0.7% in December, the group said in a statement.

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Production increased by 1.9% in November, contributing to the expansion of gross domestic product in the fourth quarter.

The shrinkage in January was the result of soaring energy and commodity costs, as well as persistent bottlenecks and shortages, the employers’ union said. Italy this week reaffirmed its 2022 GDP growth target of more than 4%.

Source: Capital

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