Bank of Italy upgrades its economic growth forecast for 2015

Market news

17 July 2015

Bank of Italy upgrades its economic growth forecast for 2015

The Bank of Italy upgraded its economic growth forecast for 2015 on Friday. Italy's economy is expected to expand 0.7% this year, up from the previous forecast of a 0.5% growth.

The upward revision was driven by low oil prices, a weaker euro and "a more positive evolution of the external context, in large part attributable to the effects of monetary policy".

Growth forecast for 2016 remained unchanged at 1.5%.

European Commission Vice President Valdis Dombrovskis hopes a new Greek bailout programme could be reached within a few weeks

Thomson Reuters/University of Michigan preliminary consumer sentiment index drops to 93.3 in July

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