While industrial production data showed some resilience in July/August, most recent survey evidence for the economy as a whole, extending into the fourth quarter, does not signal improvements towards the end of the year. Looking ahead to next year, the growth momentum is expected to remain weak.
These changes are having a significant impact on Italy as well: even over the summer, when the risk of infection was low and the social distancing measures were very limited, the use of payment cards rose, especially for those with a higher technological content such as contactless cards, and the use of cash decreased.