Italy Gross Domestic Product Contracts 0.9 Percent in Q4


In the fourth quarter of 2012 the seasonally and calendar adjusted, chained volume measure of Gross Domestic Product decreased by 0.9 percent with respect to the third quarter of 2012 and by 2.8 percent in comparison with the fourth quarter of 2011.

Compared to the third quarter of 2012, final consumption expenditure decreased by 0.5 per cent, gross fixed capital formation by 1.2 per cent; imports by 0.9 per cent and exports increased by 0.3 per cent. With respect to the fourth quarter of 2011, final consumption expenditure decreased by 3.9 per cent, gross fixed capital formation by 7.6 per cent and imports by 6.6 per cent, while exports increased by 1.9 per cent.

Italy's economy shrank more sharply that expected at the end of last year, for a sixth consecutive quarter and extending the longest recession in 20 years. In 2012, GDP adjusted for calendar effects decreased by 2.2 percent over the previous year. It should be noted that 2012 had one working day more than 2011.
 

ISTAT | Nuno Fontes | nuno@tradingeconomics.com
2/14/2013 10:27:27 AM