Food consumption: the scenario improves

Italy’s gross domestic product is predicted increase by 0.7% in 2015 and 1.1% in 2016, supported by a recovery in consumer spending; Italian exports are predicted to show further growth, in turn, imports will grow driven by “slight recovery”, though without offsetting the current balance of trade.

These forecasts were given by the study center REF Ricerche at the conference “Food Consumption in 2015 - economic scenario, forecasts, assessments of industrial and distribution”, organized by the TUTTOFOOD show Fiera Milano (Milan-Rho, 3-6 May 2015).
And not only that: the constraint of 3% in the ratio between GDP and public deficit will be respected and inflation will be kept down to zero this year and will run at 0.7% in 2016.

Among other positive factors that combine to create the favorable economic picture, one has the weakening of the euro, which together with the recovery of the American economy favors European exports; the collapse of oil prices and its positive impact on the manufacturing industry, not to mention the policy of the European Central Bank facilitating credit.
In this encouraging picture, the negative note concerns Italian unemployment rates, that according to the study will remain firmly above the 12%.
And two risks, above all, on the horizon: an upswinging in inflation and the possible, feared increase in VAT, that of course would have a negative impact on the demand for consumer goods, primarily food (Source: Tendenzeonline, 3/2015).