We've cut our Italian GDP growth forecast by 0.2ppts to 0.6% for 2024 to reflect recent national accounts downgrades to growth from last year and Q1 2024. Although we've kept our 2025 GDP growth forecast at 1.0%, we recognise some downside risks to our outlook as surveys have been softer than at the start of this year. We project inflation will average 1.0% this year and 1.7% next, when the contribution from energy inflation will likely increase.
Italy: National Accounts revisions drive forecast downgrades