Industrial production continued to expand in the first nine months of 2007, despite occasional fluctuations. Although business expectations for the next months remain positive, they do not rule out the possibility of a slowdown. Output in the construction industry is estimated to be stable at the previous year's level.
In tourism, the first eight months of the year saw a drop in the number of visitors, mainly foreigners. Exports of products in which the region specializes accelerated sharply at current prices in the first half of the year.
Employment growth was concentrated in industry, excluding the construction sector, and among self-employed workers and women. The unemployment rate was unchanged compared with the average for 2006. In the first half of the year bank lending slowed with respect to the end of 2006.
Loans to households continued to increase, while credit to the corporate sector declined as a result of an extraordinary operation. Lending to general government and to other financial corporations also contracted. Bank funding from regional clients expanded at a similar rate to that recorded in December of the previous year.
Households in Valle d'Aosta continued to invest their savings mainly in liquid assets and low-risk instruments.
