OECD revises Italy 2017 GDP growth upwards to +0.9% (2)

Constitutional reform 'a step in right direction'

OECD revises Italy 2017 GDP growth upwards to +0.9% (2)

Paris, November 28 - The the Organization for Economic Cooperation and Development (OECD) revised upward its GDP growth estimate for Italy in 2017, by 0.1% to 0.9%. Italy's GDP will grow by 0.8% in 2016, by 0.9% in 2017 and by 1% in 2018, the OECD said in its November economic outlook report out Monday. In spite of strong improvement on the jobs front, private consumption weakened on increasing uncertainty and a drop in consumer confidence, according to the OECD. The organization said Italy's government has made significant progress on structural reforms, from the labour market to the civil service to the educational system. Its constitutional reform law - which is the object of a December 4 referendum - "will be a step forward in the reform process and will strengthen political and economic governance," the OECD report said. The organization also said it expects eurozone GDP growth of +1.7% in 2016, +1.6% in 2017 +1.7% in 2018.

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