The Bank of Italy has published an updated assessment of Campania’s economy, estimating that output increased 1.3% year on year in the first half of 2026, compared with 0.9% nationally and 1.0% in southern Italy. Services and construction expanded, while manufacturing activity remained broadly stable in the first nine months. Credit growth strengthened, but rising energy costs squeezed business margins and higher inflation restrained gains in household purchasing power.
Construction benefited from public works, including projects under the National Recovery and Resilience Plan, while tourism and transport supported services. Export values fell 4.6% in the first half, chiefly reflecting lower pharmaceutical export values, although pharmaceutical exports increased in real terms. Employment rose 1.4%, outpacing national growth but slowing from the corresponding period of 2025. Real household disposable income increased 1.0%, below its 1.4% growth in 2025, as inflation eroded purchasing power. Consumer price inflation reached 4.3% in September, with transport, housing and utilities accounting for more than half the increase.
Bank lending to the region’s private nonfinancial sector grew 3.2% year on year in June, up from 2.8% at the end of 2025. Business lending increased 2.6%, but expansion was confined to medium and large companies, with loans to small firms still down 3.0%. Household borrowing increased across mortgages and consumer credit. Banks maintained cautious lending standards despite stronger demand. Credit quality remained broadly favorable, with the annualized corporate loan deterioration rate declining to 4.1% in June from 4.5% at the end of 2025.