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Italian firms pessimistic about economic recovery: report

01-18-2011 08:33 BJT

ROME, Jan. 17 (Xinhua) -- The majority of Italian firms are pessimistic about the economic recovery and fear that inflation will further rise, according to a report jointly published on Monday by the Bank of Italy and leading financial daily Il Sole 24 Ore.

Over 66 percent of small- and medium-sized enterprises expressed concerns that the crisis' shadow will still be looming over Italy for this year, adding that in their view the economic situation had remained unchanged.

The study highlighted that in 2010 the global economy's growth has slowed down with an inevitable repercussion on Italy's productivity levels, which have relatively dropped.

And the negative perception and low confidence are on the rise. The number of firms who see more difficulties ahead has risen in the last months, said the document. Just 18 percent are confident that the economic outlook will eventually change, while very few nourish the belief of a brighter future scenario.

The more pessimistic are the service and export-oriented firms, especially those operating in the poorer south of the country. Roughly 25 percent of enterprises complain of a drop in the demand of their products compared to three months ago, while almost all fear a rise in inflation.

According to the survey, Italy's economic recovery is unstable and weak and hinders the revamp of the country's small firms, that compose over 95 percent of its industrial core system. The overall perception among industrials is gloomy and this doesn't support the recovery, added the report.

Editor:Yang Jie |Source: Xinhua

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