The Italian economy cannot yet breathe a sigh of relief, indeed. The recovery recorded in the third quarter, with the easing of the lockdown measures, is not enough to return above pre-Covid levels. And with the worsening of the second wave of infections, the decline now written for the fourth quarter could widen between 3 and 8 percentage points. To trace the balance of the national economic system, as well as the estimates for the coming months, is the Parliamentary Budget Office in the note on the October economic situation. However, good news comes from Standard and Poor’s which promotes Italian accounts. Thanks to the measures taken by the government for 2020, which are worth 6.15% of GDP and the European support, with the purchases of the ECB and the launch of the Recovery Fund, the agency sees an opportunity to restart economic growth. Result: the BBB rating confirmed, the outlook improved, passing from negative to stable. The road remains uphill. «The COVID-19 pandemic – reads the S&P Global Rating statement – has hit the Italian economy hard; according to our projections, GDP will not return to 2019 levels until 2023 ».