The Bank of Italy has published its annual report on the Marche economy, describing a modest recovery in 2025 after stagnation in 2024. Real activity is estimated to have risen by 0.5 percent, in line with Italy as a whole, but the rebound remained fragile amid geopolitical and trade tensions. Manufacturing weakened for much of the year, exports fell 7.6 percent, investment by firms undershot plans and activity in services was subdued overall, although construction expanded on the back of National Recovery and Resilience Plan spending and post-earthquake reconstruction. The report shows a mixed regional picture beneath that headline growth. Employment rose 1.1 percent, slightly faster than the national average, led by employee jobs, while the unemployment rate was broadly unchanged at 5.1 percent. Household disposable income strengthened and, in real terms, outpaced the national average, but consumption growth remained contained. Bank credit to resident customers increased slightly overall, as lending to households rose through faster mortgage and consumer credit growth, while credit to firms continued to contract, especially for smaller businesses, despite some growth in construction finance. Credit quality showed some deterioration only in business lending, deposits continued to grow and securities holdings increased, supported mainly by investment funds and Italian government bonds. In local public finances, current and capital spending both increased, health spending was a main driver, implementation of European cohesion programs was more advanced than the national average and regional public debt continued to decline to a per capita level well below the Italian average. For early 2026, the report notes preliminary signs of improvement at the start of the year, followed by a worsening in conditions linked to developments in the Middle East conflict. It also says the contraction in business lending had almost stopped by the first quarter of 2026, while household lending continued to grow.
Bank of Italy2026-06-17
Bank of Italy says Marche economy grew 0.5 percent in 2025 as exports fell 7.6 percent and business lending kept shrinking
The Bank of Italy’s annual report says the Marche economy grew 0.5 percent in 2025 after stagnating in 2024, but the recovery was constrained by geopolitical uncertainty, weak manufacturing and a 7.6 percent fall in exports. Employment and household income increased, while bank lending to households rose but credit to firms kept contracting. Construction and local public investment were supported by National Recovery and Resilience Plan spending and post-earthquake reconstruction.