The Bank of Italy has published an update on Liguria’s economy, estimating that regional output grew 0.9% in the first half of 2026, matching the national rate. Industry and services expanded, while employment growth supported household spending. Business lending nevertheless contracted, contrasting with continued growth in household borrowing, while aggregate credit quality improved.
Industrial production and sales increased in the first nine months of 2026, alongside higher services turnover. Exports rose 8.3% at current prices in the first half, with growth extending beyond volatile petroleum and shipbuilding sales. Construction activity stabilized, supported by major public infrastructure projects. Employment increased 1.6% in the first half, and unemployment fell to 4.7% from 5.2% a year earlier. Real household consumption grew an estimated 1.2%, although inflation accelerated to 3.7% in September, driven mainly by housing, utility and transport costs.
Bank lending to businesses fell 3.7% over the year to June, partly reflecting borrowing decisions by large corporate groups. Provisional August data showed the contraction easing to 2.1%. Household lending by banks and financial companies rose 2.3% over the year to June, supported by mortgages and consumer credit despite slightly higher borrowing costs. The average annual percentage rate on new housing loans reached 3.8% in the second quarter, compared with 3.6% in December 2025. The gross ratio of nonperforming loans to total loans declined to 2.9% in June from 3.0% at the end of 2025. Household and business bank deposits returned to growth, rising 1.5% over the year to June.