The Italien prime minister Renzi is becoming a supply-side advocate: By lowering taxes he expects a push to economic growth. Right so! Particularly in Italy, where the tax burden is relatively high, the chance that this works is very high.
And this on the top of economic news of the Banca d'Italia - see below - which has published quite good news on economic growth (while inflation will remain modest in the foreseeable time).
Good news also the the property market!!
The latest news of the Italian central bank (Economic Bulletin 4/2015):
"In Italy the main indicators confirm the cyclical upturn …
Economic activity in Italy has been expanding since the beginning of 2015, at an annualized rate of about 1.5 per cent. The latest cyclical signs – including the gain in industrial production, the strengthening of household and business confidence and the rise in purchasing managers’ indices – indicate that the expansion continued in the third quarter at about the same pace as in the first half of the year. After years of contracting domestic demand, the strengthening of the recovery in private consumption and the gradual revival of investment in productive capital are contributing to the expansion of output. According to the latest surveys, most firms judge the direct effects of the economic slowdown in China on their own activity to be limited so far; the impact appears to be more pronounced only for some large exporting firms."