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ROME Cheap Oklahoma State Cowboys Jerseys , May 9 (Xinhua) -- Foreign investors began looking at the Italian economy in a new light this week, after the passage of a controversial electoral reform package and the release of encouraging macroeconomic data.
Nobody thinks it will be smooth sailing for Italy going forward, but all indications are that foreign observers are more optimistic about Italy's economy than they were a week ago.
In the last seven days, ISTAT, Italy's National Statistics Institute, reaffirmed its prediction that the economy will grow 0.7 percent this year Cheap Oklahoma Sooners Jerseys , which would make 2015 the first full year of positive growth since the economy grew 0.6 percent in 2011. ISTAT also said the economic recession that has gripped Italy since 2008 will end, and it predicted the stubborn unemployment rate would begin to fall.
Meanwhile, industrial production rose in March, the latest figures released, and a survey of purchasing managers in April reached its highest level in a year. Car sales continued to rise.
But economic indicators have hinted a recovery might be on the way in the past, and the recovery failed to materialize.
"There are still positive and negative indicators Cheap Ohio State Buckeyes Jerseys , but it's possible we're starting to see data tilting toward the positive," Javier Noriega, chief economist with Hildebrandt and Ferrar, told Xinhua. "But it's still prudent to take a wait-and-see approach to the economic situation."
The development that may help set the current situation apart is a political development: the controversial electoral reform package pushed through parliament by Prime Minister Matteo Renzi.
The package was passed after a series of three risky confidence votes, and over the vocal opposition of lawmakers, many of them from Renzi's own party.
But the plan Cheap Notre Dame Fighting Irish Jerseys , which will go into effect with elections taking place in July 2016 or later, will bring new stability to a notoriously unstable political system by awarding bonus seats in parliament to the political party that earns the most votes.
"I think observers are encouraged to see that reforms are being passed, that there's more than just words and promises," Daniela Giannetti, a political scientist with the University of Bologna, said in an interview. "After so many years of inaction in Italy Cheap North Carolina Tar Heels Jerseys , a kind of barrier is being crossed and that's a positive signal."
At least for now, that seems to be the consensus view. U.S.-based ratings agencies Fitch and Moody's, both critical of Italy's political problems in the past, gave their approval to the reforms, with Fitch calling it "a big step in the right direction." International investors concurred, with already-low yields on Italian government bonds moving slightly lower in the wake of the confidence votes Cheap Michigan Wolverines Jerseys , a sure sign that investors see Italy as less risky than in the past.
But some expert observers say that despite the positive reactions, it is still too early to declare the reform a victory.
"There may be a positive short-term reaction to this reform, but it is probably premature: we won't know the true impacts for five or ten years and multiple elections," Giandomenico Piluso, an economic history professor with the University of Siena, said in an interview.
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