Italy: back to growth

After underperforming against its peers for two decades in macroeconomic terms and following the deepest double-dip recession in its history (in 2008-2009 and in 2012-2013), the Italian economy is growing again, partially thanks to the strong, synchronised growth seen across the Eurozone, but also partially due to some structural improvements that have boosted competitiveness. 

The increased availability of financing for growth is also providing some support. On the political front, there is a lot of uncertainty surrounding the forthcoming general election (March 2018) and caution is required. Nevertheless, the likely absence of a clear-cut winner will favour the formation of a coalition and hence some continuity in terms of economic policy. There is thus potential for some repricing of the risk on Italian assets.

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