Economic developments in CalabriaUpdate

In the first half of 2007 the regional economy showed signs of slowing in some sectors: while construction and trade were stationary, there was a decline in industrial output and in the tourism sector. The sharp reduction in employment, common to almost every sector of production, was accompanied by a fall in the number of job-seekers. Credit continued to expand, albeit at a slower rate. The ratio of non-performing loans to total loans decreased, but nonetheless remained well above the national average. Household savings were mainly invested in repos, government securities and corporate bonds.