Italy GDP Growth Rate
2022 Data – 2023 Forecast – 1960-2021 Historical – Calendar
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Italy’s gross domestic product contracted by 0.1 percent quarter-on-quarter in the three months leading to December of 2022, falling from the 0.5 percent expansion in the previous quarter and slightly below expectations of a 0.2 percent decline.It was the first period of contraction since the final quarter of 2020, pressured by aggressive interest rate hikes by the European Central Bank to tame soaring inflation in the currency bloc.Domestic output contracted for industry and agriculture during the period, more than offsetting the growth noted for services.Regarding the full 2022, preliminary figures suggest that the Italian economy expanded by 3.9 percent, compared to the outlined growth of 4.7 percent from the government in the prior year.Looking ahead, the Italian government expects its output to grow by 0.6 percent in 2023.
source:
National Institute of Statistics (ISTAT)
GDP Growth Rate in Italy averaged 0.57 percent from 1960 until 2022, reaching an all time high of 14.50 percent in the third quarter of 2020 and a record low of -12.10 percent in the second quarter of 2020.This page provides – Italy GDP Growth Rate – actual values, historical data, forecast, chart, statistics, economic calendar and news.Italy GDP Growth Rate – data, historical chart, forecasts and calendar of releases – was last updated on January of 2023.
GDP Growth Rate in Italy is expected to be -0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.In the long-term, the Italy GDP Growth Rate is projected to trend around 0.30 percent in 2024, according to our econometric models.
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Calendar
GMT
Reference
Actual
Previous
Consensus
TEForecast
2022-11-30
09:00 AM
QoQ Final
Q3
0.5%
1.1%
0.5%
0.5%
2023-01-31
10:00 AM
QoQ Adv
Q4
-0.1%
0.5%
-0.2%
-0.2%
2023-03-03
09:00 AM
QoQ Final
Q4
0.5%
-0.1%
Related
Last
Previous
Unit
Reference
GDP Growth Rate
-0.10
0.50
percent
Dec 2022
GDP Annual Growth Rate
1.70
2.70
percent
Dec 2022
GDP Constant Prices
437702.30
435653.70
EUR Million
Sep 2022
Gross Fixed Capital Formation
92827.10
91787.00
EUR Million
Sep 2022
Full Year GDP Growth
3.90
6.60
percent
Dec 2022
GDP from Services
290573.80
287640.30
EUR Million
Sep 2022
GDP from Manufacturing
75895.10
76316.60
EUR Million
Sep 2022
GDP from Construction
21354.90
21767.30
EUR Million
Sep 2022
GDP from Agriculture
7612.90
7729.10
EUR Million
Sep 2022
Italy GDP Growth Rate
Italy is the ninth largest economy in the world and the third largest in the Euro Zone.
The country has a diversified industrial base driven in large part by manufacturing of high-quality consumer goods.Composition of the GDP on the expenditure side: household consumption (61 percent), government expenditure (19 percent) and gross fixed capital formation (17 percent).Exports of goods and services account for 30 percent of GDP while imports for 27 percent, adding 3 percent to total GDP.
Actual
Previous
Highest
Lowest
Dates
Unit
Frequency
-0.10
0.50
14.50
-12.10
1960 – 2022
percent
Quarterly
SA
Compare
GDP Growth Rate by Country
News Stream
Italian GDP Contracts 0.1% in Q4
Italy’s gross domestic product contracted by 0.1 percent quarter-on-quarter in the three months leading to December of 2022, falling from the 0.5 percent expansion in the previous quarter and slightly below expectations of a 0.2 percent decline.It was the first period of contraction since the final quarter of 2020, pressured by aggressive interest rate hikes by the European Central Bank to tame soaring inflation in the currency bloc.Domestic output contracted for industry and agriculture during the period, more than offsetting the growth noted for services.Regarding the full 2022, preliminary figures suggest that the Italian economy expanded by 3.9 percent, compared to the outlined growth of 4.7 percent from the government in the prior year.
Looking ahead, the Italian government expects its output to grow by 0.6 percent in 2023.
2023-01-31
Italian GDP Growth Confirmed at 0.5%
Italy’s gross domestic product expanded by 0.5 percent quarter-on-quarter in the three months leading to September of 2022, in line with preliminary expectations and slowing from the 1.1 percent advance in the second quarter.It marked the seventh consecutive month of expansion, as the Italian economy fought off soaring inflation and rising borrowing costs.Final consumption expenditure grew by 1.8 percent, as a 2.5 percent advance in household consumption offset the 0.2 percent contraction for government expenditure.Also, gross fixed investments expanded by 0.8 percent, supported by investments in machinery (4.1 percent).In the meantime, changes in inventories added 0.2 percentage points to the final GDP growth.On the other hand, net foreign demand subtracted 1.3 percentage points, as imports (4.2 percent) grew more than exports (0.1 percent).Year-on-year, the economy expanded by 2.6 percent, also aligned with preliminary estimates.
2022-11-30
Italian GDP Surprisingly Grows
Italy’s gross domestic product expanded by 0.5 percent quarter-on-quarter in the three months leading to September of 2022, easing from the 1.1 percent growth in the previous quarter but surpassing expectations that expected a stall.
The result also beat the Italian Parliamentary Budget Office’s expectation of a 0.2% contraction, as authorities expected soaring energy prices during the quarter and political uncertainty amid the un-traditional Spring elections to hit consumer spending.On a yearly basis, the economy expanded 2.6 percent.In the meantime, the carry-over annual growth in GDP until the third quarter is 3.9 percent, compared to the government’s forecast that the economy would expand 3.3 percent in the full year.
2022-10-31
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