Rome

S&P sees Italian recovery signs, but says long way to go (2)

Rating agency praises investment incentives,bemoans productivity

S&P sees Italian recovery signs, but says long way to go (2)

Rome, November 15 - Standard and Poor's said in a report Wednesday that the Italian economy is "showing positive signs of recovery". But the rating agency also added that "after six years of stagnation, the process of recovery will probably be long". It highlighted the acceleration in growth registered in the second quarter, with real GDP set to increase 1.5% this year. It cited the growth in investment "thanks to tax incentives", the improved credit conditions and resolution of the crises concerning several Italian banks as positive factors. It said much remained to be done on labour productivity.

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