ALMOST 400,000 JOBS LOST IN LOCKDOWN
In a hearing before the Senate Labor and Welfare Commission on Thursday, ISTAT Statistics Production Department Director Roberto Monducci said that an estimated 385,000 jobs were lost in April (on an annual basis) due to the anti-coronavirus lockdown.
Monducci said the most jobs were lost in hotels, restaurants, retail, and in the so-called personal services sector, which ranges from caring for the elderly to hairdressers.
He added that in the first quarter of 2020 Italy's gross domestic product (GDP) "underwent a contraction of exceptional dimensions" due to the COVID-19 pandemic and the efforts to contain it, falling by 4.7 percent compared to the last quarter of 2019 and by 4.8 percent compared to the first quarter last year.
Also on Thursday, ISTAT released new data showing that consumer and business confidence indexes had both plunged to what it said were "historic lows" of 94.3 and 51.1 in May.
"The ongoing health emergency continues to impact negatively on the climate of confidence," ISTAT analysts wrote. "For consumers, the index reaches its lowest value since December 2013; for businesses, it has touched the minimum value, which was recorded ... in March 2005."
On the trade front, ISTAT on Thursday released preliminary data showing that exports to countries outside the European Union (EU) contracted by 37.6 percent and imports fell by 12.7 percent in April compared to March.
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