Growth in line with the national average
In 2023, economic growth continued in Lazio, albeit at a much slower pace than the previous year. According to the Bank of Italy’s quarterly indicator of the regional economy (ITER), economic activity in Lazio grew by 0.9 percent in real terms in 2023 (as in Italy), a slower pace than in 2022 (3 .7 percent). THE consumption of families and business investments increased, although to a lesser extent than the previous year; foreign demand for goods has decreased.
The services are good
The greatest contribution to growth in 2023 came – underlines the Bank of Italy – from the services sector (which in Lazio represents over 80 percent of the total added value): the increase in added value was 1.4 percent (3.9 in 2022). The activity of the sector was driven above all by the sectors linked to tourism: Visitor attendance in the region grew by 25.3 percent, exceeding the pre-pandemic level by 15.4 percent.
Buildings
In construction, growth in 2023 was the most intense: added value increased by 3.0 percent (about one percentage point less than in Italy). Compared to 2022, when growth was 7.8 percent, the sector experienced strong growth deceleration. The remodulation of the Superbonus has had an impact; instead, they accelerated public works, also thanks to the implementation of the National Recovery and Resilience Plan (PNRR).
Industry
In industry in the strict sense the activity is instead lowered: added value decreased by 1.2 percent (as in Italy), while last year it remained almost stable. The negative performance of the energy sector had an impact. A more favorable trend characterized manufacturing, penalized however by a decline in exports of goods which in real terms fell significantly (-13.7 percent), returning below the pre-pandemic value. According to the survey by the Bank of Italy (Invind), investments have increased in real terms in both industry and services.
Employment better than the Italian average
Employment increased by 2.3 percent, slightly more than the Italian average; the increase made it possible to recover pre-pandemic levels. Youth employment grew more intensely (5.0 percent in the 15-34 age group). Above all, employee positions have increased Temporary, contrary to what happened in the rest of the country, where growth was driven by stable employment contracts. The employment rate (15-64 years) rose from 61.8 to 63.2 percent, remaining higher than the Italian one (equal to 61.5); the unemployment rate decreased from 7.7 to 7.2 percent (7.7 percent on average for the country).
