Istat revises growth in the second quarter upwards. And he explains that the good performance of the 2022 GDP is due to the Superbonus

Istat revises growth in the second quarter upwards. And he explains that the good performance of the 2022 GDP is due to the Superbonus
Istat revises growth in the second quarter upwards. And he explains that the good performance of the 2022 GDP is due to the Superbonus
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Growth extraordinary”Claimed by the outgoing premier Mario Draghi during the last press conference? It largely depends on the Superbonus launched by the previous executive, a measure that the former central banker has made clear on several occasions that he does not agree and has hindered the assignment of credits with many stakes. To say it are the data of the‘Istatwhich revised its estimates upwards on Thursday Italian GDP in the second quarter of 2022. According to updated numbers on gross domestic productadjusted for calendar effects and seasonally adjusted, increased by1.1% compared to the previous quarter (the initial estimate was + 1%) and 4.7% over the same period of 2021. In the first quarter the variation was 0.1% in the quarter and 4.7% on a trend basis. But the interesting aspect is the composition of this good annual performance. To tow it are clearly the buildingswhose added value, i.e. the difference between the value of final goods and that of productive inputs, is continuing to rise at sustained rates after exceeding the 77.1 billionwell above pre-Covid levels (68.1 billion in 2019).

There maxi deduction of 110% of the costs incurred for energy efficiency and anti-seismic interventions has been in force, as is known, since July 2020. Until that moment, the added value of the buildings traveled around 17 billion per quarter. A year later he surpassed i 19 and today stands at 21.9. A progress that no other sector has approached. Looking at the quarterly changes, the fund’s value added increased in the first quarter of 18.7% year on year and 5.8% on the fourth quarter of 2021. By far the greatest growth is on the economic level, ahead of + 4% in the branch “Professional activities, research and support services“, Both trend (followed by + 17.5% of”Commerce, transport, accommodation and catering“). On the contrary, industry in the strict sense made a negative economic contribution (-0.9%).

In the second quarter (April-June), downstream of the blocking of the transfer of tax credits generated by building renovations, the effect was slightly less: + 1.8% compared to the previous three months, +16.3 year on year. In this case, in comparison with the previous quarter, trade and tourism did better (+ 3.3%), with the latter restarting strongly with the end of the last few anti Covid restrictions, but compared to the same period of the previous year, construction remains in first place. The push of the manufacturing industry stopped, to make a comparison, at a + 1.3% economic and + 1.9% structural.

The trend of the current quarter and that of the last part of the year, destined to be affected by strong energy price increases and the shortage of raw materials, will inevitably be negatively affected by freezing of the market linked to block of the credit market, not resolved by the go-ahead for the transfer by the banks to their own customers with VAT number. In fact, the knot of the solidal responsibility by the institutions themselves if they have not carried out all the preventive checks to avoid fraud. The result is that many have suspended operations, leaving businesses and families with the match in hand.

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The article is in Italian

Tags: Istat revises growth quarter explains good performance GDP due Superbonus

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