Italy Gross Domestic Product Contracts 0.2% in Q3

Seasonally and calendar adjusted, Gross Domestic Product decreased by 0.2 per cent with respect to the second quarter of 2012 and by 2.4 per cent in comparison with the third quarter of 2011 according to a release by the National Institute of Statistics.

Compared to the second quarter of 2012, both gross fixed capital formation and imports decreased by 1.4% and final consumption expenditure by 0.8%, while exports increased by 0.5%. With respect to the third quarter of 2011, gross fixed capital formation felt by 9.8%, imports by 7.8% and final consumption expenditure by 3.7%, while exports rose by 1.6%.

The industry sector expanded 0.2%. The services sector contracted 0.2% while the agriculture sector recorded a steep decrease of 6.7%. In annual terms, all sectors recorded negative changes. Construction contracted 6.7%, agriculture 5.1%,  industry (excluding construction) 3.9% and services went down by 1.3%.

ISTAT | Nuno Fontes |
12/13/2012 10:13:02 AM