Italian GDP growth is estimated at 0.7 percent in 2023: +0.4 percent in the South, +0.8 percent in the Center-North. The reopening of the North-South growth gap is attributable to the decline in household consumption (-0.5 percent), which is not expected to be observed in the Center-North (+0.4 percent). This is according to the 2023 report of the Association for the Development of Industry in Southern Italy (Svimez) presented yesterday. The unfavorable dynamic is caused by a contraction in the disposable income of southern households (-2%), double that of the Center-North as in 2022. Investment is expected to be affected by a positive dynamic, but strongly decelerating compared to 2022: +5% from +9.8 in the previous year in the Mezzogiorno, +3.3% after +9.1 in 2022 in the Center-North.
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