Economic developments in Sicily in the year 2005Update

In the first half of the year the economy of Sicily showed signs of recovery. The main cyclical indicators for industry excluding construction improved. In tourism, the number of arrivals and overnight stays rose, with greater intensity for flows from abroad. In the construction sector, by contrast, the expansionary phase waned. The positive trend of exports continued, even excluding refined petroleum products. Employment growth was concentrated in agriculture and services. The rate of increase in bank lending to the Sicilian economy rose further; lending to firms also accelerated in the short-term component. Bank fund-raising grew. The average level of interest rates remained virtually stable.