Wednesday May 17 2017
Italy Trade Surplus Widens In March
Istat | Yekaterina Guchshina | yekaterina@tradingeconomics.com

taly's trade surplus rose to €5.4 billion in March 2017 from €5.2 billion surplus in the same month of the previous year while market expected €1.97 billion surplus. Exports increased by 14.5 percent to €42.39 billion, led by higher purchases of coke and refined petroleum products and vehicles; while imports grew by 16.3 percent to €36.97 billion, as purchases of crude oil and coke and refined petroleum products rose the most. With EU countries, Italy registered a trade surplus of €1.25 billion and with non-EU ones - €4.2 billion.

Year-on-year, exports rose 14.5 percent to €42.39 billion, boosted by higher sales of: coke and refined petroleum products (47.1 percent); vehicles (28.1 percent); pharmaceuticals and chemicals (22.8 percent); and electrical appliances (5 percent). By main industrial groups, sales rose for: energy (47.5 percent); intermediate goods (15.7 percent); consumer goods (14.1 percent) and capital goods (11.9 percent).

The biggest increases in shipments were reported for: China (32.3 percent); Russia (21.2 percent); Spain (23.4 percent); Poland (24.5 percent) and Germany (16.3 percent). 

Imports increased 16.3 percent to €36.97 billion, led by gains in purchases of: crude oil (68 percent); coke and refined petroleum products (59.2 percent); vehicles (26.6 percent); pharmaceuticals and chemicals (23.7 percent); and base metals (20.3 percent). By main industrial groups, purchases rose for: energy (13.6 percent); capital goods (15.3 percent); intermediate goods (33 percent); and consumer goods (11.1 percent).

The rise in imports mainly reflected the increase in purchases from OPEC countries (62.1 percent), Turkey (26 percent), Austria (12.9 percent); Spain (25.8 percent); Germany (15.3 percent); the US (42.2 percent) and India (32.6 percent).





Tuesday May 16 2017
Italian Economy Expands 0.2% In Q1, Matches Expectations
Istat | Joana Taborda | joana.taborda@tradingeconomics.com

The GDP in Italy advanced a meager 0.2 percent on quarter in the first three months of 2017, the same as in the previous period and in line with expectations. The economy continues to underperform most of its partners in the Euro Area as external demand dragged down on growth, preliminary estimates showed.

On the expenditure side, internal demand was the main driver of growth, namely gross inventories while net trade made a negative contribution. On the production side, agriculture and services increased while the industrial sector contracted.

Year-on-year, the economy advanced 0.8 percent, below 1 percent in the previous quarter but matching forecasts. The GDP is expected to expand 1.1 percent in 2017 according to government estimates. 




Monday May 15 2017
Italy Inflation Rate Revised Up To 1.9% In April
Istat |Luisa Carvalho | luisa.carvalho@tradingeconomics.com

Consumer prices in Italy increased 1.9 percent year-on-year in April of 2017, following a 1.4 percent rise in the previous period and above preliminary estimates of 1.8 percent. It is the highest inflation rate since February of 2013, mainly driven by prices of housing and utilities, namely electricity and natural gas and transport. On a monthly basis, consumer prices went up 0.4 percent, higher than preliminary estimates of 0.3 percent.

Year-on-year, prices rose at a faster pace for transport (5.6 percent vs 4.6 percent in March), housing and utilities (3 percent vs 0.2 percent), of which electricity (5.4 percent vs -1 percent) and natural gas (5.9 percent vs -1.4 percent) and restaurants and hotels (1.8 percent vs 1.2 percent).

Meanwhile, cost slowed for food and non-alcoholic beverages (2.2 percent vs 2.8 percent), miscellaneous goods and services (1 percent vs 1.1 percent) and health (0.3 percent vs 0.4 percent).

Annual core consumer prices, which exclude energy and unprocessed food advanced 1.1 percent, compared to a 0.7 percent rise in the prior month. Excluding only energy, consumer prices increased 1.3 percent (from 1.2 percent).

On a monthly basis, consumer prices went up 0.4 percent, after being flat in March.  

The harmonized index rose 0.8 percent on the month (1.9 percent in March) and 2 percent on the year (1.4 percent in March).




Tuesday May 02 2017
Italy Unemployment Rate Unexpectedly Rises In March
Istat |Luisa Carvalho | luisa.carvalho@tradingeconomics.com

Italy's seasonally adjusted jobless rate increased to 11.7 percent in March of 2017 from 11.5 percent in February and higher than market expectations of 11.5 percent. The number of unemployed increased by 1.4 percent from the previous month and employment was almost unchanged.

There were 3.022 million unemployed people in March 2017, 41 thousand more than in the previous month. Employment fell slightly by 7 thousand to 22.870 million and those detached from the labour force went down by 34 thousand to 13.436 million.

Youth unemployment rate, measuring job-seekers between 15 and 24 years old, decreased to 34.1 percent, the lowest level since February 2012, from 34.5 percent in February.

Italy's overall employment rate, one of the lowest in the Euro Area, stood at 57.6 percent, unchanged from the previous month.




Friday April 28 2017
Italy Inflation Rate At 4-Year High Of 1.8% In April
Istat | Yekaterina Guchshina | yekaterina@tradingeconomics.com

Consumer prices in Italy are expected to rise 1.8 percent year-on-year in April of 2017, following a 1.4 percent increase in March and above market expectations of 1.7 percent, according to preliminary estimates. It was the highest inflation rate since February of 2013, as prices rose at a faster pace for transport, housing and utilities, and restaurants and hotels. On a monthly basis, prices went up 0.3 percent, above consensus of 0.2 percent.

Year-on-year, prices rose at a faster pace for transport (5.5 percent compared to 4.6 percent in March); housing and utilities (3 percent compared to 0.2 percent) and restaurants and hotels (1.7 percent compared to 1.2 percent). 

In contrast, cost slowed for food and non-alcoholic beverages (2.2 percent compared to 2.8 percent) and clothing and footwear (0.4 percent from 0.1 percent). 

Annual core inflation rate, which excludes energy and unprocessed food rose to 1 percent from 0.7 percent the previous month. Excluding only energy, the inflation was steady at 1.2 percent.

On a monthly basis, consumer prices went up 0.3 percent, after being flat in March.  

The harmonized index rose 0.8 percent on the month (1.9 percent in March) and 2 percent on the year (1.4 percent in March).


Wednesday May 17 2017
Italy Trade Surplus Narrows In February
Istat | Yekaterina Guchshina | yekaterina@tradingeconomics.com

Italy's trade surplus declined to €1.84 billion in February 2017 from €3.9 billion in the same month of the previous year while market expected €2.24 billion surplus. Exports increased by 2.3 percent to €34.9 billion, led by higher purchases of coke and refined petroleum products and vehicles; while imports grew by 9.1 percent to €33 billion, as purchases of crude oil and coke and refined petroleum products rose the most. With EU countries, Italy registered a trade surplus of €0.2 billion and with non-EU ones - €1.7 billion.

Year-on-year, exports rose 2.3 percent to €34.9 billion, boosted by higher sales of: coke and refined petroleum products (80.8 percent); vehicles (12.7 percent); chemicals (6.6 percent); and agriculture, forestry and fisheries products (5 percent). By main industrial groups, sales rose for: energy (75.6 percent); intermediate goods (2 percent) and consumer goods (0.9 percent).

The biggest increases in shipments were reported for: China (31.5 percent); Russia (25.4 percent); Spain (9.8 percent) and Poland (8.5 percent). 

Imports increased 9.1 percent to €33 billion, led by gains in purchases of: crude oil (105.3 percent); coke and refined petroleum products (53.6 percent); vehicles (13.8 percent); pharmaceuticals and chemicals (13.8 percent); and computers and electrical appliances (11.3 percent). By main industrial groups, purchases rose for: energy (57 percent); capital goods (6.9 percent); intermediate goods (4.1 percent); and consumer goods (3.8 percent).

The rise in imports mainly reflected the increase in purchases from OPEC countries (54.9 percent), Russia (33.2 percent), Turkey (19.3 percent), Austria (8 percent) and Spain (10.5 percent) and India (38.5 percent).


Thursday April 13 2017
Italian Inflation Rate Confirmed At 1.4% In March
Istat | Joana Ferreira | joana.ferreira@tradingeconomics.com

Italian consumer prices increased by 1.4 percent year-on-year in March 2017, easing from a 1.6 percent gain in the previous month and matching the preliminary estimate. Prices rose at a slower pace for food and transport.

Year-on-year, prices rose at a slower pace for food and non-alcoholic beverages (2.8 percent from 3.8 in February) and transport (4.6 percent from 4.9 percent). Additional upward pressure came from: Restaurants and hotels (1.2 percent from 1.1 percent in February); housing, water, electricity, gas and other fuels (0.2 percent after showing no growth in February); health (inflation steady at 0.4 percent); recreation and culture (0.4 percent from 0.1 percent); and clothing and footwear (inflation steady at 0.4 percent).

Annual core inflation rate, which excludes energy and unprocessed food, went up to 0.7 percent from 0.6 percent in February. Excluding only energy, the inflation went down to 1.2 percent from 1.3 percent in February.

On a monthly basis, consumer prices showed no growth after increasing by 0.4 percent in February. Prices of unprocessed food fell 2.7 percent while cost of services related to transport increased by 1.1 percent.

The harmonized index rose by 1.4 percent on the year and by 1.9 percent from the previous month. 


Monday April 03 2017
Italy Unemployment Rate Falls To 6-Month Low In February
Istat |Luisa Carvalho | luisa.carvalho@tradingeconomics.com

Italy's seasonally adjusted jobless rate decreased to 11.5 percent in February of 2017 compared to a downwardly revised 11.8 percent in January and lower than market expectations of 11.9 percent. It is the lowest reading since August last year, as the number of unemployed persons decreased by 82.5 thousand from the previous month and employment increased by 23 thousand. Meanwhile, the employment rate stood at 57.5 percent.

There were 2.984 million unemployed people, 83 thousand less than in the previous month. Employment rose by 8 thousand to 22.862 million and those detached from the labour force went up by 51 thousand to 13.485 million.

Youth unemployment rate, measuring job-seekers between 15 and 24 years old, decreased to 35.2 from 36.9 in January.

Italy's overall employment rate, one of the lowest in the Euro Area, stood at 57.5 percent.


Friday March 31 2017
Italy Inflation Slows To 1.4% In March
Istat | Yekaterina Guchshina | yekaterina@tradingeconomics.com

Consumer prices in Italy are expected to rise 1.4 percent year-on-year in March of 2017, following a 1.6 percent increase in February and below market expectations of 1.5 percent, according to preliminary estimates. Prices rose at a slower pace for food and transport. On a monthly basis, prices were flat compared to market expectations of 0.1 percent gain.

Year-on-year, prices rose at a slower pace for food and non-alcoholic beverages (2.8 percent compared to 3.8 percent in February) and transport (4.6 percent compared to 4.9 percent). Meanwhile, cost accelerated for restaurants and hotels (1.2 percent compared to 1.1 percent), recreation and culture (0.4 percent from 0.1 percent) and housing and utilities (0.1 percent compared to 0.0 percent).

Annual core inflation rate, which excludes energy and unprocessed food rose to 0.7 percent from 0.6 percent the previous month. Excluding only energy, the inflation went up to 1.1 percent from 1.3 percent in February.

On a monthly basis, consumer prices were flat, following 0.4 percent increase in February. 

The harmonized index rose 1.8 percent on the month (0.2 percent in February) and 1.3 percent on the year (1.6 percent in January).


Friday March 17 2017
Italy Posts Largest Trade Gap In 4 Years
Istat | Yekaterina Guchshina | yekaterina@tradingeconomics.com

Italy's trade balance shifted to €0.57 billion deficit in January 2017 from €0.03 billion in the same month of the previous year while market expected €3.45 billion surplus. It was the first trade gap since January of 2015 and the biggest since January of 2013. Exports increased by 13.3 percent to €31.7 billion, led by higher purchases of coke and refined petroleum products and vehicles; while imports grew by 15.5 percent to €32.3 billion, as purchases of crude oil and coke and refined petroleum products rose the most. With EU countries, Italy registered a trade surplus of €0.3 billion while with non-EU ones a trade gap of €0.9 billion.

Year-on-year, exports rose 13.3 percent to €31.7 billion, boosted by higher sales of: coke and refined petroleum products (69.4 percent); vehicles (27.7 percent); pharmaceuticals (25.9 percent); and electrical equipment (16.2 percent). By main industrial groups, sales rose for: energy (75.7 percent); intermediate goods (11.4 percent); capital goods (14.1 percent); and consumer goods (9.4 percent).

The biggest increases in shipments were reported for: ASEAN (57 percent); Russia (39.4 percent); China (36.5 percent); the United States (35.8 percent) and Japan (28.8 percent). 

Imports increased 15.5 percent to €32.3 billion, led by gains in purchases of: crude oil (123.9 percent); coke and refined petroleum products (53.6 percent); vehicles (27.9 percent); natural gas (17.3 percent); and base metals (15.8 percent). By main industrial groups, purchases rose for: energy (62.5 percent); capital goods (13.1 percent); intermediate goods (15.9 percent); and consumer goods (2.1 percent).

The rise in imports mainly reflected the increase in purchases from OPEC countries (53.4 percent), Russia (43.3 percent), Turkey (29.6 percent), Austria (23 percent) and Spain (20.6 percent).