Public accounts, Istat: “Deficit / GDP at 10.8% in the first quarter due to expenses for Covid. Household consumption at -6%, on savings”

The impact of Covid it also makes itself felt heavily on public accounts. According to the latest data State, in the first quarter of this year the relationship between deficit e Pil jumped to the 10,8%, the highest level since the first quarter of 2010. The incidence of indebtedness on the Gross Domestic Product “has significantly increased” for “the reduced revenue and increased expenditure“, Which include” le extraordinary expenses per earnings redundancy fund and various types of allowances for the month of March “, aimed at addressing the emergency.

Meanwhile the fiscal pressureand in the first quarter it was equal to 37,1%, an increase of 0.5 percentage points compared to the same period of the previous year: a value never recorded before. Obviously the collapse of the GDP weighs, given that the pressure is calculated as the ratio between the sum of direct, indirect, capital taxes and
social contributions and gross domestic product. The disposable income of consumer households it decreased by 1.6% compared to the previous quarter, while the final consumption expenditure decreased by 6.4%. The propensity to save of consumer households is estimated at 12.5%, an increase of 4.6 percentage points compared to the fourth quarter of 2019 household purchasing power has decreased compared to the previous quarter of 1.7%, against one substantial price stability.

The share of profit on the other hand, non-financial companies, equal to 42.3%, increased by 0.4 percentage points compared to the fourth quarter of 2019. investment, equal to 20.9%, decreased by 0.4 points.

The estimate on consumer confidence and of companies fortunately, in June it indicates the start of a recovery phase: that of consumers has grown compared to May from 94.3 points to 100.6 while for companies the index passes from 52.7 points in May to 65. All components of consumer sentiment are growing, albeit with different intensities. The increase is marked for the economic climate (from 72.9 to 87.2) and for the future climate (the index goes from 93.1 to 105.6) while the personal climate and the current one show smaller increases (from 100.9 to 104.5 and from 95.0 to 96.4, respectively). For companies, the estimates show an increase in widespread confidence in all sectors even if the levels remain depressed. In particular, the industry’s confidence index in industry manufacturing rises from 71.5 to 79.8 and in the buildings it increases from 108.4 to 124. For the sector of services, there is a rise in the index both in market services (from 38.9 to 51.7) and in retail trade (the index goes from 68.0 to 79.1).

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