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Italy's Economy Outperforms Forecast as Europe Faces Mixed Growth Signals

Italy's first-quarter economic performance exceeded initial expectations, continuing growth momentum from the prior year before geopolitical disruptions later emerged. The upward revision reinforces Italy's relative strength compared to peers in the eurozone. France, by contrast, reported an unexpected contraction during the same period, raising questions about regional resilience to external shocks. Industrial real estate markets tightened significantly. National availability fell to levels unseen since 2021, while new construction starts hit a decade low. This tightening favors established last-mile operators positioned in key infill markets. Housing starts rebounded in March, with permit data offering additional insight into construction momentum. Major logistics partnerships continued reshaping the sector, with significant long-term agreements signed to capture growing e-commerce demand.