«In the first part of 2024 the expansion of the Calabrian economy continued at a modest pace». It is revealed there Catanzaro branch of the Bank of Italy in the report on the economic update of the Calabrian economy, presented today in a press conference.
«The estimates based on the quarterly indicator of the regional economy of the Bank of Italy – continues the report – indicate for the first quarter an increase in GDP (gross domestic product) of 0.4 percent, a figure in line with the Italian average. According to the results of the economic survey conducted between September and October by the Bank of Italy, the turnover of Calabrian companies grew moderately in the first months of the year. Company profitability and liquidity remained at the high levels of last year. Industry in the strict sense – adds Bank of Italy – has shown signs of recovery, driven mainly by the food sector. In the construction sector, the expansion phase of the public works segment continued, which benefited from the interventions linked to the Pnrr, while private construction was affected by the downsizing of the redevelopment interventions connected to the Superbonus”.
The Bank of Italy report also notes that «employment levels in the region have continued to grow, although at a slower pace than the national average, fueled by the component of employed work. This resulted in a reduction in the unemployment rate. The increase in employment contributed to supporting the incomes of Calabrian families, which also increased in real terms thanks to the limited growth in prices. Nonetheless, family consumption has decreased slightly, still feeling the effects of the large loss of purchasing power accumulated in the two-year period 2022-23.”