Bank of Italy reports on economy

  • industrial production probably fell around -0.7% QoQ in 2Q
  • sees gross NPL ratio for Italian banks under ECB supervision at 8.4% Q1 2019 from 8.3% in Q4 2018
  • sees Italian GDP growth at 0.1% this year, 0.8% in 2020, 1.0% in 2021
  • negative balance on the target2 payment system has narrowed since start of the year