Report edited by L. Ghezzi and N. Sciclone
The IRPET Annual Report paints a picture of a regional economy that is still fragile but showing signs of stabilisation. The international scenario remains uncertain and the economic cycle is proceeding at a slow pace, with downside risks linked to the global context. In Tuscany, manufacturing production is showing signs of slowing down, while exports and tourism continue to grow, with the first signs of recovery in the fashion sector in 2025.
Regional GDP growth remains moderate (+0.8% in 2025 and +0.7% in 2026), driven mainly by domestic demand and household consumption. The labour market continues to expand, but with a slowdown in new hires and an increase in the use of social safety nets, especially in fashion and manufacturing.
The national budget has an overall neutral impact on Tuscany, with benefits concentrated on households (especially those with medium-high incomes) and a negative balance for businesses and public administration. The role of PNRR resources and European structural funds is crucial, as they continue to fuel growth, investment and employment.
Businesses are showing signs of resilience, but with cautious expectations regarding investment and demand, in a context marked by high costs and uncertainty about the outlook.
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Report editors: L. Ghezzi and N. Sciclone
Working group: E. Conti, M. Donati, N. Faraoni, T. Ferraresi, C. Ferretti, G. F. Gori, M. L. Maitino, D. Marinari, L. Ravagli
Editorial layout: E. Zangheri
