MADE IN ITALY
We chart Italy ’ s path through the pandemic and its latest economic and machine tool and automation forecasts for manufacturers .
According to the US ’ s International Trade Administration , Italy is the “ 2021 was an extremely world ’ s eighth largest economy positive year for the Italian with a GDP of US $ 1.85 trillion in 2020 machine tools , robotics and a per capita GDP of US $ 31,630 . and automation industry ,
Its GDP contracted by 8.9 % in 2020 which reported doubledigit increases for all key because of the COVID-19 pandemic and subsequent lockdown measures by the economic indicators .”
Italian government .
The OECD forecast that the strong 2021 rebound from COVID-19 would ease progressively in 2022 and 2023 , with expected growth of 4.6 % and 2.6 %. The recovery is expected to benefit from supportive fiscal policy , including investment financed through Next Generation EU funds , and progressively normalising services activity . A gradual rise in employment , it said , should support steady consumption growth . Core inflation was forecast to rise as spare capacity declines and purchasing power increases .
The Italian government is focused on post-pandemic economic recovery and the efficient application of the National Recovery and Resilience Programme ( NRRP ), a fund of approximately US $ 200- billion awarded to Italy by the European Commission . It is structured around three strategic axes — digitisation and innovation , ecological transition and social inclusion — and aims to help Italy to recover from the economic and social damage caused by the pandemic crisis . The programme also aims to address the structural weaknesses of the Italian economy and lead the country along a path of ecological and environmental transition .
An eye on growth
Italy has a population of approximately 60 million with industrial activity largely concentrated in the north from Turin in the west through Milan to Venice in the east . This region is one of the most industrialised and prosperous areas in the world and accounts for more than 50 % of Italy ’ s national income .
The OECD forecast that the strong 2021 rebound from COVID-19 would ease progressively in 2022 and 2023
38 | sheetmetalplus . com | ISMR May 2022