Economic developments in SicilyUpdate

The economic recovery of the region continued through the first half of 2007, although at a slower pace with respect to the previous year. In industry, production and orders resumed growth after a downturn in the first two quarters. Output in the construction sector increased. In tourism, the number of visitors diminished following three years of growth. Sales of refined oil products led to a sharp upturn in exports. Employment declined. The rate of unemployment also fell owing to the drop in the number of job-seekers. Credit continued to expand at a rapid pace, as in the last five years, although signs of a slowdown began to emerge. Bank funding accelerated slightly, mainly thanks to the growth in deposits of sectors other than households.