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Italian Economy Unexpectedly Grows in Q1
Italy's gross domestic product expanded 0.1% on quarter in the first three months of 2021, compared with preliminary estimates of a 0.4% contraction and following a 1.8% drop in the previous period. Gross fixed capital formation advanced 3.7%, accelerating from a 0.4% rise in Q4, in particular, dwellings (4.8% vs -1.6%), machinery and equipment and weapon systems (3.5% vs 2.3%) and other buildings and structures (5.2% vs -0.6%). Also, household consumption decreased less by 1.2%, after a 2.7% drop. Meantime, government expenditure declined (-0.2% vs 1.6%), and net trade contributed negatively to growth, as export went down 0.1% while imports rose 2.3%. On the production side, main sources of growth were industry (1.8% vs -0.3%); and agriculture, forestry & fishing (3.9% vs -2.5%). On the other hand, services output continued to drop (-0.4% vs -2.2%). Year-on-year, the economy shrank 0.8%, less than earlier estimates of a 1.4% contraction.
Published on 2021-06-01

Italy Q1 GDP Shrinks Less than Expected
Italy's gross domestic product shrank 0.4 percent on quarter in the first three months of 2021, following a downwardly revised 1.8 percent contraction in the previous period and compared to market consensus of a 0.5 percent fall, a preliminary estimate showed. The services sector contracted after another wave of coronavirus cases led to the imposition of more restrictions on business during the first quarter of the year. Meantime, both industry and agriculture showed growth. On the expenditure side, exports were a drag on overall GDP while domestic demand increase. However, the second quarter looks like it will be brighter as the government eased curbs over much of the country from the start of this month as new infections gradually declined. Prime Minister Mario Draghi's government forecasts the economy to grow 4.5% this year while warning that the outlook remains highly uncertain depending on the development of the Covid-19 disease.
Published on 2021-04-30

Italy Q4 GDP Contracts Less than Initially Thought
Italy's gross domestic product shrank 1.9 percent on quarter in the three months to December 2020, less than preliminary estimates of a 2 percent contraction and after a record growth of 15.9 percent in Q3. Consumer spending fell 2.7 percent while government spending rose 1.5 percent and investments edged up 0.2 percent. Net foreign demand contributed negatively to growth, as exports increased 1.3 percent while imports rose at a faster 5.4 percent. On the production side, contractions were seen in all main industries: agriculture, forestry and fishing (-2.8 percent), industry (-0.7 percent) and services (-2.3 percent). Year-on-year, the GDP shrank 6.6 percent, following a 5.2 percent slump in the third quarter and in line with earlier estimates. Considering full 2020, the economy contracted by 8.9 percent, the steepest contraction since World War II.
Published on 2021-03-03

Italy Q4 GDP Shrinks Less than Expected
Italy's gross domestic product shrank 2 percent on quarter in the three months to December 2020, after a record growth of 16 percent in Q3 and compared with market consensus of a 2.2 percent contraction amid new COVID-19 related curbs on businesses and freedom of movement. Value-added declined in all main economic sectors: agriculture, forestry and fishing, industry and services. On the demand side, domestics demand and trade flows both contributed negatively to GDP. Year-on-year, the GDP shrank 6.6 percent, following a 5.1 percent slump in the third quarter. For full 2020, the economy contracted 8.8 percent, the most since World War II but less than the 9 percent contraction forecast by the Italian government.
Published on 2021-02-02

Italy Q3 GDP Record Expansion Revised Lower
Italy's gross domestic product grew by a record 15.9 percent on quarter in the three months to September 2020, rebounding from an unprecedented contraction of 13 percent in the previous period but below preliminary estimates of a 16.1 percent expansion. Household consumption (12.4 percent vs -11.5 percent in Q2) and gross fixed capital formation (31.3 percent vs -17 percent) rebounded and government expenditure advanced faster (0.7 percent vs 0.3 percent). Also, foreign demand contributed positively to growth, as exports climbed 30.7 percent (vs -23.9 percent in Q2) while imports went up at a softer 15.9 percent (vs -17.8 percent in Q2). Year-on-year, the GDP shrank 5 percent, easing from an 18 percent slump in the second quarter and compared to earlier estimates of a 4.7 percent fall.
Published on 2020-12-01

Italian Economy Rebounds More than Expected
Italy's gross domestic product grew by a record 16.1 percent in the three months to September 2020, rebounding from an unprecedented contraction of 13 percent in the previous period and beating market consensus of 11.2 percent, a preliminary estimate showed. Growth was broad-based, with industry, services and agriculture all showing a rise in output. Year-on-year, the GDP shrank 4.7 percent, following a downwardly revised 17.9 percent contraction in the second quarter. Rome had expected growth to continue in the fourth quarter but this is now threatened by a resurgence of the coronavirus which has forced the government to impose new restrictions on business. ISTAT said that if GDP were to be flat quarter-on-quarter in the final three months of the year, full-year GDP would be down 8.2% compared with 2019.
Published on 2020-10-30

Italy GDP Contraction Revised Higher
Italy's GDP shrank by 12.8 percent on quarter in the three months to June 2020, compared to a preliminary reading of a 12.4 percent plunge and following a revised 5.5 percent contraction in the previous period. That was the steepest pace of contraction since comparable series began in the 1960s as the country was one of the hardest hit by the coronavirus pandemic. The government was forced to introduce rigid restriction measures from March 9th, which were only gradually eased from May 4th. Both consumer spending (-6.7 percent vs -4 percent in Q1) and gross fixed capital formation (-2.6 percent vs -1.4 percent) declined at a faster pace, while government expenditure went down 0.2 percent, the same as in the prior period. Also, external demand contributed negatively to the GDP (-2.4 percent). Year-on-year, the economy contracted a record 17.7 percent, entering a steep recession.
Published on 2020-08-31

Italy Posts Unprecedented GDP Slump in Q2
Italy's gross domestic product shrank by 12.4 percent on quarter in the three months to June 2020, following a revised 5.4 percent contraction in the previous period and compared to market expectations of a 15 percent fall, a preliminary estimate showed. That was the steepest pace of contraction since comparable series began in the 1960s as the country was one of the hardest hit by the coronavirus pandemic. The government was forced to introduce rigid restriction measures from March 9th, which were only gradually eased from May 4th.
Published on 2020-07-31

Italy Q1 GDP Contracts More than Expected
Italy’s GDP shrank 5.3 percent on quarter in the three months to March of 2020, down from earlier estimates of a 4.7 percent drop as the country was the epicenter of the coronavirus pandemic during March. It follows a downwardly revised 0.2 percent contraction in the previous period, entering recession. It was the steepest contraction since comparable records began in 1995. Year-on-year, the economy contracted 5.4 percent, more than preliminary estimates of 4.8 percent decline and following a 0.1 percent expansion at the end of 2019.
Published on 2020-05-29

Italy Q1 GDP Contracts at Record Pace
Italy’s GDP shrank 4.7 percent on quarter in the three months to March of 200, following a 0.3 percent contraction in the previous month and entering a recession, preliminary estimates showed. It was the steepest contraction since comparable records began in 1995 and compared to market expectations of a 5 percent decline, as the country was severely hurt by the coronavirus pandemic during March. On the production side, contractions were seen in all main industries: agriculture, forestry and fishing, industry and services. From the demand side, both the domestic and external demand contributed negatively to the GDP. Year-on-year, the economy contracted 4.8 percent, the most since Q3 2009 and following a 0.1 percent expansion at the end of 2019.
Published on 2020-04-30

Italy Q4 GDP Contraction Confirmed
Italy’s GDP shrank 0.3 percent on quarter in the three months to December 2019, compared to a 0.1 percent growth in the previous period and in line with a preliminary reading, final estimates showed. It was the steepest contraction since Q1 2013, due to declines in household consumption (-0.2 percent vs 0.2 percent in Q3); gross fixed capital formation (-0.1 percent vs a flat reading) and government expenditure (-0.1 percent, the same as in Q3). On the other hand, net trade contributed positively to growth, with imports falling 1.7 percent (vs 1.1 percent) while exports edged up 0.3 percent (vs -0.2 percent). Year-on-year, the economy expanded 0.1 percent, slowing from a 0.5 percent advance in Q3 and compared to an early estimate of stagnation. Considering full 2019, GDP grew 0.3 percent, the least since 2014 but slightly better than government's forecast of 0.1%.
Published on 2020-03-04

Italian GDP Contracts The Most in 7 Years
Italy’s GDP shrank 0.3 percent on quarter in the three months to December 2019, compared to a 0.1 percent growth in the previous period and missing market expectations of a 0.1 percent expansion, preliminary estimates showed. It was the steepest contraction since Q1 2013, as a decline in gross inventories more than offset a positive contribution from net trade. On the production side, both agriculture, forestry and fishing and industry contracted while services stagnated. Economy Minister Roberto Gualtieri said that Q4 GDP was affected by outside factors including weather in November. Year-on-year, the economy stalled, after an upwardly revised 0.5 percent advance in Q3 and compared to market expectations of a 0.3 percent growth. Considering full 2019, GDP grew 0.2 percent, slowing from a 0.8 percent expansion in 2018 but slightly better than government's forecast of 0.1%.
Published on 2020-01-31

Italy Q3 GDP Growth Confirmed at 0.1%
Italy's economy grew 0.1 percent on quarter in the three months to September 2019, the same pace as in the previous period and in line with preliminary estimates. Increases in household consumption and government expenditure more than offset a decline in gross fixed capital formation and negative contribution from net foreign. Year-on-year, the GDP expanded 0.3 percent, after a 0.1 percent advance in the prior quarter and also matching flash estimates.
Published on 2019-11-29

Italy GDP Grows 0.1% in Q3, Beats Forecast of Stagnation
Italian economy grew 0.1 percent on quarter in the three months to September 2019, the same pace as in the previous three-month period and compared to market expectations of a flat reading, a preliminary estimate showed. Domestic demand was the main driver of growth, while net external demand contributed negatively to the GDP. Year-on-year, the GDP grew 0.3 percent in the third quarter, the most in a year and above market expectations of a 0.2 percent advance.
Published on 2019-10-31

Italy Economy Stalls in Q2
Italy's economy stagnated in the second quarter of 2019, following a 0.1 percent growth in the previous three-month period and compared to market expectations of a 0.1 percent contraction, a preliminary estimate showed. Both trade and domestic demand made zero contribution to growth. On the production side, declines in industry and agriculture sectors were enough to offset an expansion in services activity.
Published on 2019-07-31

Italy Q1 GDP Growth Revised Down to 0.1%
Italy's economy advanced 0.1 percent on quarter in the second quarter of 2019, slightly below a preliminary reading and market expectations of 0.2 percent, final estimates showed. It follows a 0.1 percent contraction in the previous period, emerging from its third recession in a decade. Industry and agriculture contributed to the increase in activity. Year-on-year, the GDP shrank 0.1 percent, after being unchanged in the prior quarter and missing market consensus of a 0.1 percent growth.
Published on 2019-05-31

Italy Returns to Growth in Q1
Italy's economy grew 0.2 percent on quarter in the first three months of 2019, emerging from its third recession in a decade and beating market expectations of a 0.1 percent expansion, the advance estimate showed. Industry, services and agriculture all contributed to the increase in activity. Year-on-year, the GDP rose 0.1 percent, after being unchanged in the previous period and also beating forecasts of a 0.1 percent contraction.
Published on 2019-04-30

Italy Economy Recession Confirmed in Q4
Italy's economy shrank 0.1 percent on quarter in the last three months of 2018, the same as in the previous period and slightly above the 0.2 percent contraction previously estimated. Still, it was the second straight quarter of GDP decline, throwing the country into recession for the third time in a decade.
Published on 2019-03-05

Italy Economy Shrinks for 2nd Quarter in Q4
The Italian economy shrank by 0.2 percent on quarter in the three months to December of 2018, following a 0.1 percent contraction in the previous period and slightly more than market expectations of a 0.1 percent decrease, preliminary estimates showed. It was the second consecutive quarter of contraction, throwing the country into recession.
Published on 2019-01-31

Italy Economy Contracts for 1st Time since 2014
The Italian economy unexpectedly shrank 0.1 percent quarter-on-quarter in the third quarter of 2018, following a 0.2 percent growth in the previous period, the final estimate showed. It was the first contraction since the second quarter of 2014. Year-on-year, the economy advanced 0.7 percent, after a 1.2 percent expansion in the second quarter of the year and missing market consensus of a 0.8 percent growth. It was the weakest growth rate since the first quarter of 2015.
Published on 2018-11-30