Italy'S Consumption In March (2020) Sharply Shrank By 31.7% Compared With The Same Period Last Year.

In April 14th (La), the Republic of Italy (2020) quoted the measures taken by the Italian Chamber of Commerce (Confcommercio) to seal the city in order to contain the new crown virus (Covid-19). The Research Report on how to attack the Italian economy showed that the consumption in March of this year has shrunk by 31.7% compared with that in the same period (108) in March. In April, GDP will also slip 13%.

The report pointed out that since the last week of March, the tourism industry has reduced by 95% of foreign tourists, the number of registered cars has decreased by 82%, the apparel and catering industries without the use of virtual sales platforms have reached 100%, and the catering industry even has a 68% reduction in the volume of continuous outbound services. The consumption in the first quarter will be reduced by 10.4%, and the GDP will shrink to 3.5%.

The Council said that the policy measures of national and international organizations could substantially reduce the pressure of revenue loss caused by the decrease in sales activities and turn most of them into public deficits, that is, sovereign debt. Generally speaking, Italy tends to reduce the impact of crisis by providing adequate capital flows at very low cost.

In addition, the association also believes that the prospect of economic recovery after the reopening of the Italian state is uncertain. Until the end of 2019, Italy had not yet recovered its disposable income and consumption level before the 2007 economic crisis. In short, there has been no significant improvement in the economic reconstruction of the Italian state. For many years, the economic risk of the Italian country is mainly due to the marginalization of its economic gap, the lack of water to inject internationalization, technological innovation and long-term sustainable economic growth momentum, and the sacrifice will be the younger generation.