Newsgroup: italia.firenze.discussioni
Titolo: Voci estere...

Invece che sentire i soliti noti, vediamo un po' icche dicono di noi
oltreoceano...
(report "rubato" alla Global Insight, società americana fornitrice di
ricerche sul mercato edile)
Italian GDP Rose 0.7% in the Second Quarter, But.
by Howard Archer
The National Institute of Statistics confirmed that the Italian economy
bounced out of recession in the second quarter, with real GDP expanding by
0.7% quarter-on-quarter (q/q). This followed contractions of 0.5% q/q in the
first quarter of this year and 0.4% q/q in the final quarter of 2004. The
second-quarter performance was considerably better than expected and was the
strongest since the first quarter of 2001.
Nevertheless, this conflicted with other key indicators, which failed to
gain any momentum in the second quarter, particularly industrial production,
retail sales, and the purchasing managers' indices for both the service and
manufacturing sectors. It appears, therefore, that the data in the first
half have been distorted by problems with statistical adjustments. Indeed,
the annual comparison reveals more accurately the underlying weakness of the
economy, with real GDP growing a mere 0.1% year-on-year (y/y) in the second
quarter, after a 0.2% y/y decline in the first quarter.
The expenditure breakdown of the GDP data showed that domestic demand
(excluding stocks) drove growth in the second quarter. Indeed, it
contributed 0.8 percentage point to overall GDP growth, having reduced it by
0.1 percentage point in the first quarter. Inventories made a negative
contribution to overall growth, reducing it by 0.3 percentage point.
Consumer spending expanded by 0.6% q/q and 1.2% y/y in the second quarter,
after edging up a mere 0.1% q/q and 0.3% y/y in the first quarter.
Consequently, it contributed 0.4 percentage point to overall GDP growth in
the second quarter. The strength of personal expenditure in the second
quarter was somewhat surprising given the weakness of household sentiment,
although it would have gained support from recent limited tax cuts,
historically low interest rates, and continuous employment growth.
Meanwhile, gross fixed capital formation rebounded by 1.5% q/q in the second
quarter, even though business confidence had tumbled near a two-year low in
May. Still, note that this pick-up in investment followed sharp contractions
in each of the three previous quarters, and it was still down by 2.1% y/y.
Nevertheless, total investment contributed 0.3 percentage point to
second-quarter GDP growth, after reducing it by 0.2 percentage point in the
first quarter. Within this segment, construction investment climbed 3.1% q/q
and 2.1% y/y in the second quarter. In addition, equipment investment
expanded by 2.0% q/q, although the sharp contractions seen in the previous
three quarters meant that it was still down by 4.7% y/y. Investment in
transportation equipment fell by 6.1% q/q and 8.0% y/y in the second
quarter.
Government spending expanded by 0.3% q/q and 1.0% y/y in the second quarter,
thereby contributing 0.1 percentage point to overall growth. It had edged up
by 0.1% q/q and 0.8% y/y in the first quarter.
Net trade was also positive in the second quarter, contributing 0.2
percentage point. This was in marked contrast to the first quarter, when it
had cut growth by 0.5 percentage point. Encouragingly, exports of goods and
services rebounded 5.5% q/q in the second quarter, having shrunk by 4.7% q/q
in the first quarter. Indeed, the first quarter had marked the third
successive quarter that imports had fallen by more than 4.0% q/q. Exports
were up by 0.4% y/y in the second quarter, having been down by 1.3% y/y in
the first quarter. No doubt exports were helped by a significant retreat in
the euro from its December 2005 peaks against the US dollar, as well as
reasonably healthy global growth. Nevertheless, significant concerns remain
about Italian competitiveness. Meanwhile, imports of goods and services rose
by 4.8% q/q and 3.1% y/y in the second quarter. They had fallen by 2.9% q/q
in the first quarter, when they were up a mere 0.2% y/y.
The breakdown of the second-quarter GDP data on the output side showed that
industrial production jumped 1.2% q/q, although it was still down by 0.4%
y/y. Within this sector, construction output expanded by 2.9% q/q and 1.5%
y/y. In addition, service-sector output grew by 0.7% q/q and 0.5% y/y.
Meanwhile, agricultural output edged up 0.1% q/q, but was down 3.5% y/y.
Global Insight forecasts that Italian GDP to be flat overall this year.
Despite the marked pick-up in growth during the second quarter, we still
have major concerns about the underlying state of the economy. Recent
leading and confidence indicators suggest that the Italian economy will
continue to struggle in the near term, at least. Consumer confidence remains
low, while retail sales data remain sluggish. Furthermore, although business
confidence has improved recently, it is still relatively weak and fragile.
This, coupled with the significant threats stemming from soaring oil prices,
suggests that companies will be fairly cautious in the near term, at least
over investment and employment. In addition, we suspect the euro is likely
to make renewed gains over the medium term. Perhaps significantly, the euro
traded back up as high as US$1.26 in September, compared with July's low of
US$1.19.
Achille Pièveloce/all'anema...

ricerche sul mercato edile)
Sič, tanto ho da leggere poco in inglese.
Tasto destro e via.
--
Foolfolly

 
saranno comunisti ;-P
-- 
QQG

 Italian GDP Rose 0.7% in the Second Quarter, But.
Eh? 6kb di inglese, occhesse'grullo?
Insomma, icche' c'e' scritto? E' colpa di Berlusconi o di qualcun altro?

 Eh?
Giorno...
PUPPAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA
Zer0

 Insomma, icche' c'e' scritto? E' colpa di Berlusconi o di qualcun altro?
So una sega io l'ingrese, vu see voi quelli accurturahi!!! :-D
Achille Pièveloce/sono di campagnia profondaaa...

 Achille Pièveloce/sono di campagnia profondaaa...
se montelupo l'è campagna profonda
"tettummaiaddire" a ponteaelsa icchesono?
; )

 ha scritto nel messaggio
news:Z8dWe.55079$O6.29...@news3.tin.it...

Un lo dire a me, dillo a Cittadino Dracula!!!
Achille Pièveloce/ommaremma buhaiola! :-D

 Un lo dire a me, dillo a Cittadino Dracula!!!
occhell'è di "ponteaersa"?
odiomioboninosalvacitu ; )
p.s. sonasegadov'èponteaelsa : )

 p.s. sonasegadov'čponteaelsa : )
No...
A - un tu n'hai capito una sega, ma qui dentro č lo standard sicchč bada lě
:-P
B - tu ti sei perso un bello bellissimo scambio di vedute tra me, Dracula e
qualche altro incredulo frequentatore
Achille Pičveloce/vattelo a ripescare perchč č mitico


mio dio...siamo circondati da un orda di contadini.. 

 mio dio...siamo circondati da un orda di contadini..
ROARRRR!
Siamo grossi, pelosi e puzzolentiiiii!!!
Achille Pièveloce/e ora vi si scatena un'epidemia di influenza aviariaaa,
ROAAARRR!