意大利：尽管人们对其表现大加赞赏，但经济并没有起飞

PRESS RELEASE Italy:despite flattering comments on its performance, Paris,September 8,2025–Despite recent encouraging indicators on employmentand public finances, the Italian economy is struggling to take off. Behind the Sluggish growth slows post-pandemic rebound Inthe second quarter of 2025,Italian GDP fell by0.1%comparedto the previous quarter, its firstcontractionintwoyears,confirmingthe fragility of itsgrowth(the country did notreturn to its pre-2008 crisis GDP US customs duties. At the same time, household consumption remains sluggish, held Investment: the only bright spot Investment, supported by European funds from the NGEU (Next Generation EU) plan,remains the main driver of growth. The country, the largest beneficiary in absolute terms, has already received€122 billion, or 63%of the total resources allocated to it,well above the EU average (49%). These resources, which are geared towards structural Employment: progress that is deceptive Thelabormarket is at an all-time high, with anunemployment rate of 6% and anemployment rate of 62.8%. But these figures mask a more nuanced reality: jobcreation is concentrated in low-productivity sectors (construction, retail, hospitality) Public finances: a fragile improvement Thanks to fiscal discipline and the gradual reduction of the ‘Superbonus’1, the publicdeficit was halved in 2024 to3.4% of GDP. This improvement reassured the markets, “Italy has been at the heart of the post-pandemic recovery in Europe, but its economyis falling back into its old ways: domestic demand is stagnating, foreign trade is under COFACE: FOR TRADE As a global leading player in trade credit risk management for more than 75 years, Coface helps Whatever theirsize, location or sector, Coface provides 100,000 clients across some 200 markets. with afull range of solutions: Trade Credit Insurance, Business Information, Debt Collection, Single Riskinsurance, Surety Bonds, Factoring. Every day, Coface leverages its unique expertise and cutting-edge