Between 1995 and 2001 labour productivity in Italy rose on average by 1 per cent a year; in manufacturing the average annual increase was 1.2 per cent. In Europe in the same period labour productivity rose by 1.4 per cent a year in the economy as a whole and 3.1 per cent in manufacturing.
It should return within the 3±1.5% target band by mid-2024. There are still risks, though, and it is for this reason that we continue to keep a close eye on international and domestic factors, ready to respond with all instruments on hand.