Italy’s Confindustria raises 2014 Italian deficit to GDP forecast to 3.0% from 2.9%

The large Italian employment federation also hikes up 2015 to 2.9% from 2.5% prior and calls on PM Renzi to take “urgent action” in 2015 budget to cut tax wedge and increase investments. They see 2014 debt to GDP at 137% from 135.9% prior and 2015 at 137.9% vs 135.1% prior.

EU rules have a target of 3.0% so the Italian’s are on the line.