The economic outlook is continuing to get worse, with no end in sight to the energy-price shock triggered by the Iran war, the CSC research unit of Italian industry association Confindustria said in a report on Wednesday.
    "Oil remains too expensive because the Middle East truce has not reopened (the Strait of) Hormuz," it said.
    "As this shock continues, its impact on economies is widening: inflation is rising in Italy, too, household confidence is falling even further, the decline is spreading to business confidence, and the credit channel is at risk of becoming blocked.
    "Therefore, consumer spending and services are at risk of slowing down, while the only driver of industrial production remains, for now, NRRP investments," it said referring to the EU-funded post-COVID National Recovery and Resilience Plan.
   
   

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