The Bank of Italy published an update on the Marche economy, estimating that economic activity expanded 0.7% in the first half of 2026 compared with the same period of 2025, slightly below the national pace. International uncertainty weighed on investment and the outlook. Business lending returned to growth after more than three years of contraction, but the recovery remained concentrated among larger firms, while rising inflation slowed gains in household purchasing power.
Industrial activity broadly stabilized, with smaller businesses continuing to face greater difficulties. Public works supported construction through the National Recovery and Resilience Plan and reconstruction following earthquakes, while tourism helped sustain modest services growth. Exports increased 9.2% in value in the first half, largely because of shipbuilding sales. Excluding shipbuilding, the increase was 2%. Employment remained broadly unchanged, but authorized hours under wage supplementation schemes rose 44.4%, mainly reflecting extraordinary support for restructuring and business difficulties. Regional inflation reached 4.1% in September, driven largely by transport, housing and utility costs.
Bank lending to regional customers grew 1.2% over the year to June, compared with 3.1% nationally. Business loans increased 0.5%, with lending to larger firms rising 2.2% while credit to smaller businesses fell 6.6%. Provisional August figures showed business lending growth strengthening to 2%, including a return to expansion in manufacturing. Demand increased to finance investment and working capital, while banks maintained prudent lending criteria. Loans from banks and finance companies to households rose 2.6% over the year to June, supported by mortgages and consumer credit. Credit quality remained broadly stable: the ratio of new impaired loans to performing loans averaged 1.6% over the four quarters ending in June, while gross impaired bank loans declined to 3.7% of total lending from 3.9% at the end of 2025.