Italy: Staff Report for the 2002 Article IV Consultation
IMF Staff Country Reports, October 25, 2002
Source details
- Canonical URL
- Italy: Staff Report for the 2002 Article IV Consultation
Other formats
Bibliographic details
- Published: October 25, 2002
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451819748.002
Overview
- The economic slowdown in Italy in 2001 was followed by only a modest resumption of growth in the first half of 2002.
- Weaker external demand spilled over into domestic demand, causing economic growth to stagnate in the last three quarters of 2001.
- GDP growth turned marginally positive in the first half of 2002, although final domestic demand remained weak.
- Industrial production remained weak despite a rebound in business confidence from its 2001 trough.
- Equity prices have fallen by more than 20 percent from end-2001 to mid-October 2002.
Major themes and findings
- External demand deterioration was a key driver of the 2001 slowdown and the tepid recovery in early 2002.
- Domestic demand weakness persisted into 2002, limiting a stronger GDP rebound.
- Industrial sector activity lagged, even with improved business sentiment after 2001.
- Financial market indicator: equity prices declined by more than 20 percent between end-2001 and mid-October 2002.
Policy-relevant topics covered
- Employment and Labor markets
- Expenditure and Fiscal policy
- Fiscal consolidation
- Public debt
- Product market reform
- Revenue and tax administration (implied by keywords)
Key statistics and publication metadata
- Pages: 57
- Volume: 2002
- Issue: 230
- Series: Country Report No. 2002/230
- DOI: https://doi.org/10.5089/9781451819748.002
- Stock No: 1ITAEA0012002
- ISBN: 9781451819748
- ISSN: 1934-7685
- Publication date listed on page: October 25, 2002
International Monetary Fund. "Italy: Staff Report for the 2002 Article IV Consultation", IMF Staff Country Reports 2002, 230 (2002).