Marche economy grows 0.7 percent as industry stagnates
Economic activity in Marche grew 0.7 percent year on year in the first half of 2026, slightly below Italy's pace, the Bank of Italy estimates. Public works supported construction, while industrial output remained broadly flat.
Shipbuilding masks uneven export performance
The Bank of Italy reports that international uncertainty restrained investment and the near-term outlook.
Manufacturing output fell 0.1 percent in the first quarter of 2026 and 0.2 percent in the second, year on year.
First-half exports rose 9.2 percent, but only 2.0 percent excluding shipbuilding.
Construction output increased 2.9 percent, supported by earthquake reconstruction and the National Recovery and Resilience Plan (PNRR).
By June, PNRR payments reached €2.4 billion, or 61 percent of regional allocations.
Tourist overnight stays rose 6.9 percent in the first half.
Real household income increased 0.8 percent and consumption 0.9 percent.
Regional inflation reached 4.1 percent in September, driven mainly by transport, housing and utilities.
Credit recovery bypasses smaller firms
Bank lending rose 1.2 percent year on year in June 2026, against 3.1 percent nationally.
Business lending increased 0.5 percent after more than three years of contraction: loans to larger firms grew 2.2 percent, while smaller firms recorded a 6.6 percent decline.
Household borrowing from banks and finance companies rose 2.6 percent; new mortgage disbursements increased 9 percent in the first half.
The gross non-performing bank loan ratio fell to 3.7 percent from 3.9 percent at end-2025.
Deposits grew 1.7 percent in June but fell 0.4 percent in August, provisionally.
Falling unemployment without job growth
The lower unemployment rate did not accompany an expansion in employment.
In the first half of 2026, unemployment fell to 4.3 percent as participation declined and employment slipped 0.2 percent year on year.
Authorized wage-supplementation hours increased 44.4 percent, against an 18.2 percent decline nationally.
Source: L'economia delle Marche - Update, November 2026
IN: