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by Alessandra Cardone
MILAN£¬ Feb. 15 (Xinhua) -- Although still marked by a deep recession and the European sovereign debt crisis£¬ Italy£¬ the eurozone's third largest economy£¬ was expected to confirm a slow path of growth this year. Experts and businessmen of Italy's key producing sectors already gave a cautious mood on Italian economic perspectives in 2017 because of some uncertainties looming on a global level.
The mild positive sentiment nurtured among business circles was upheld by the latest economic data and forecast. The country's gross domestic product (GDP) grew by 0.9 percent in 2016£¬ ISTAT£¬ Italy's statistical office£¬ said in its preliminary estimates on Tuesday. The figure exceeded the prudent 0.8 percent forecast posted by the Italian government last year.
The European Commission£¬ the executive arm of the European Union£¬ also revised up its forecasts on Monday£¬ predicting Italy's GDP grew by 0.9 percent in 2016 (from a previous 0.7 percent)£¬ and would rise by 0.9 percent in 2017£¬ and 1.1 percent in 2018.
ISTAT also stated Italy's industrial output in December 2016 increased by 1.4 percent on a monthly basis£¬ and by 6.6 percent compared with December 2015£¬ which marked the highest increase since August 2011.
December's results brought Italy's overall industrial production growth to 1.6 percent in 2016. Despite encouraging signs£¬ however£¬ the figures still leave Italy at the lowest level of growth among EU partners.
However£¬ according to some officials£¬ chances for a more robust growth were put at risk by global uncertainties£¬ which would weigh especially on one of Italy's most crucial pillar: exports.
The wave of nationalism£¬ or populism£¬ at a global level£¬ and starting from the United States£¬ was a major cause for concern among Italian companies£¬ according to the head of Milan-based Italian Foreign Trade Association (AICE).
"We have no idea whether free trade is going to be subjected to limitations£¬ and this uncertainty will surely impact Italian exports£¬" AICE president Claudio Rotti told Xinhua.
Italian exports rose by 0.7 percent in the first 11 months of 2016£¬ and the country kept its rank as the world's eighth largest exporter£¬ according to the Ministry for Economic Development.
"Exports kept more or less the same levels last year£¬ with a rise in South East Asia£¬ the Middle East -- the Gulf countries especially -- Mexico and Argentina in South America£¬ and a sharp fall in Russia due to the embargo£¬" Rotti said. Exports to China kept going well£¬ with an increase in equipment "thanks to China's ongoing strong development process£¬" he added.
"An increasing number of Italian firms£¬ whose turnover is traditionally domestic-oriented£¬ are now gearing up to find spaces in international markets£¬ and they would definitely have the necessary energies£¬.
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