Messina (Intesa): strong Italian economy, at most short technical recession

Messina Intesa strong Italian economy at most short technical recession

(Finance) – “I am convinced that the the positive change in GDP in the 3rd quarter is a sign of our country’s strength. We have sectors that are slowing down, but others that have a certain resilience. The fourth quarter could have a positive trend, just look at the strong tourism in October with good weather; this element will allow to mitigate other variables, such as a slowdown in investments. ”He said Carlo Messina, managing director from Intesa Sanpaoloduring a press conference to comment on the results for the first nine months of 2022.

“What we see in the dynamics in the bank accounts is a demonstration of the country’s strength. Companies are committed to exports, in families there is a strong liquidity and financial availability growing over the years – he explained – Certainly, inflation affects the issue of inequalities and the impact that the crisis can have on the working poor and the poor in general “.

“There are prospects to continue to support growth in the country, but we must support SMEs and families who are bearing the main impacts of the crisis – he continued -. a major recession in 2023 is unlikely: if there is, it will be of a technical nature at the beginning of the year and will be followed by GDP growth of over 1% in 2024 “.