The Bank of Italy presented its annual regional report on the economies of the Autonomous Provinces of Trento and Bolzano for 2024, estimating real GDP growth of around 0.7% in both provinces, broadly in line with the national rate. A slight rise in consumption, supported by recovering real incomes and lower inflation, was offset by weak foreign demand linked to Germany’s slowdown and by broadly flat investment. Manufacturing turnover slipped slightly in Trento and weakened in Bolzano, while exports were flat in Trentino and grew in South Tyrol but at a slower pace. Construction contracted in Trentino and expanded in South Tyrol as public demand strengthened but private activity cooled following changes to Italy’s Superbonus incentives, while services continued to expand on historically high tourism demand. Bank lending to the non-financial private sector fell in both provinces, more in Trentino, amid still restrictive but easing financing conditions and weaker credit demand, while credit quality improved in Trentino and was stable in Bolzano; deposits increased and household growth was driven by term deposits. The report also notes that, over 2007–23, value added in both provinces grew faster than the national average, supported by demographics, employment and hourly productivity, with larger productivity gains and more frequent rapid firm expansion in South Tyrol and stronger innovation intensity and a wider presence of innovative start-ups in Trento.

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