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Edition 9 July 2018 - Crédit Agricole S.A.
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  • Edition 9 July 2018

    Italy – Economic climate: Economy still resilient in Q1 2018

    Italian economic growth moderately slowed in Q1 2018, against a backdrop of a marked deceleration in the European cycle. That backdrop had an adverse effect on the contribution from foreign demand, but domestic demand was still robust. For banks, both asset quality and profitability improvement have continued to improve, but the new government has disrupted this more upbeat context.

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  • Contents:

    - Economy still resilient in Q1 2018
    - Economy resilient in a less favourable external environment
    - Politics: League advance confirmed in local elections
    - Banking sector testing its ability to resist

  • Extract – Politics: League advance confirmed in local election

    The first round in the local elections on 10 June showed a very positive momentum for the centre-right, with the Democratic Party holding its own, and the M5S losing ground. Forza Italia held steady in the South, where the League is struggling to gain a toehold. The M5S came out as the real loser in these elections as it did not make it through to the run-off stage in any of the big cities, and lost votes in the North and the South. It was unable to capitalise on the general election result and suffers from its low local presence. The second round saw a landslide for the League. The run-off revealed the preferences of M5S voters, 75% of whom switched their vote to a centre-right candidate. The government alliance is thus benefitting the League, which has emerged as the senior partner in government, as well as in the centre-right coalition.

  • Italy: League advance confirmed in local elections

    A left-to-right shift in the recent partial local elections. In the current landscape, the centre-right governs 43 of the 112 large cities (compared with 29 after the 2013 local elections), while the centre-left governs 46, as against 76 in 2013. The M5S still has a very small presence at local level, running six large cities, as against two in 2013.

    Italy: League advance confirmed in local elections
  • Associative topics : Banking and Insurance | Economics | Italy


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