(AGI) Rome, March 25 - The flash estimate published by theCentre of Studies of Confindustria, the Italian employers'association, forecast a slight growth in Italy's GDP in thefirst quarter of this year. "Italy's GDP growth is around 0.2percent in the first quarter, conditioned by the adverse effectof the fall in industrial production in January (which couldnonetheless be reversed in February)", the report said. As foremployment, it "started giving signs of recovery already in2014...and will increase hand in hand with the cyclicalrecovery." According to Confindustria's experts, this will"help families overcome the uncertainties produced by thecrisis". The credit squeeze persists despite the shy progressmade, although "comprehensive financial conditions have greatlyimproved thanks to exchange rates, stock performance andinterest rates; companies' liquidity has improved thanks to thepayment of arrears by the public administration, which hasalmost compensated the drop in bank loans". The note continued:"The favourable context does not change Italy's competitivenessranking because it is temporary and common to the wholeeurozone; on the contrary, it could highlight some shortcomingsif it were to be better exploited by more dynamic systems,widening the performance gap with other countries. This isanother reason for promoting reforms." (AGI) . .