Thursday December 14 2017
Italian November Inflation Rate Confirmed at 0.9%
Istat | Luisa Carvalho | luisa.carvalho@tradingeconomics.com

Consumer prices in Italy increased 1.9 percent year-on-year in November of 2017, easing from a 1 percent gain in the previous month and matching the preliminary estimate. It was the lowest inflation rate since December last year, mainly led by slowing prices of food and restaurants and hotels. Meantime, cost fell slightly more for education.

Year-on-year, prices increased less for: food and non-alcoholic beverages (1.9 percent vs 2.1 percent in October), namely unprocessed food (3.2 percent vs 3.8 percent) and restaurants and hotels (1.1 percent vs 1.7 percent). Meantime, inflation rate was steady for housing and utilities (2 percent); miscellaneous goods and services (0.6 percent); health (0.1 percent); clothing and footwear (0.2 percent) and alcoholic beverages and tobacco (0.1 percent). In addition, cost fell further for education (-16.2 percent vs -16.1 percent).

Conversely, prices went up at a faster pace for transport (2.7 percent vs 2.4 percent) and recreation and culture (0.5 percent vs 0.4 percent).

Annual core inflation rate, which excludes energy and unprocessed food eased to 0.4 percent, following a 0.5 percent increase in October. Excluding only energy, the inflation slowed to 0.6 percent from 0.7 percent in the prior month.

On a monthly basis, consumer prices decreased 0.2 percent, the same as in October.

The harmonized index went down 0.2 percent on the month (from a flat reading in October) and inched up 1.1 percent on the year (the same pace as in October).




Friday December 01 2017
Italy GDP Growth Revised Down to 0.4% in Q3
Istat | Joana Taborda | joana.taborda@tradingeconomics.com

The Italian economy expanded 0.4 percent on quarter in the three months to September of 2017, below a preliminary estimate of 0.5 percent but above a 0.3 percent growth in the previous period. Gross fixed investment made the largest contribution to growth, followed by household consumption and net trade.

Gross fixed capital formation jumped 3 percent, following a 1.1 percent rise in the previous period, mainly boosted by a 6 percent surge in investment in machinery and equipment (1.3 percent in Q2) and a recovery in construction (0.3 percent compared to -0.3 percent). On the other hand, investment in transport equipment slowed (1.9 percent compared to 9.8 percent). 

Household spending also went up faster (0.3 percent compared to 0.2 percent in the previous period) while government expenditure edged up a meager 0.1 percent (0.2 percent in the previous period). 

Exports of goods accelerated (1.6 percent compared to 0.1 percent) and imports rose at a slower 1.2 percent (1.6 percent). 

Year-on-year, the economy expanded 1.7 percent, lower than a preliminary reading of 1.8 percent but above 1.5 percent in the previous period. It remained the fastest growth rate since the first quarter of 2011. The government forecasts 2017 growth at 1.5 percent which would be the strongest rate since 2010.




Thursday November 30 2017
Italy November Inflation Rate at Near 1-Year Low of 0.9%
Istat | Luisa Carvalho | luisa.carvalho@tradingeconomics.com

Consumer prices in Italy are expected to increase 0.9 percent year-on-year in November of 2017, compared to a 1 percent gain in the previous month and below market expectations of a 1.1 percent rise. It was the lowest inflation rate since December last year. Prices advanced less for food, restaurants and hotels and miscellaneous goods and services while declined slightly further for education.

Year-on-year, prices slowed for: food and non-alcoholic beverages (1.9 percent vs 2.1 percent in October), namely unprocessed food (3.2 percent vs 3.8 percent); restaurants and hotels (1.1 percent vs 1.7 percent) and miscellaneous goods and services (0.5 percent vs 0.6 percent), of which services related to recreation, including repair and personal care (0.9 percent vs 1.4 percent). Meantime, inflation rate was steady for housing and utilities (2 percent); health (0.1 percent); clothing and footwear (0.2 percent) and alcoholic beverages and tobbaco (0.1 percent). In addition, cost fell further for education (-16.2 percent vs -16.1 percent).

On the other hand, prices rose faster for transport (2.7 percent vs 2.4 percent) and recreation and culture (0.5 percent vs 0.4 percent).

Annual core inflation rate, which excludes energy and unprocessed food eased to 0.4 percent from 0.5 percent in the prior month. Excluding only energy, the inflation was steady at 0.8 percent.

On a monthly basis, consumer prices decreased 0.2 percent, the same pace as in October.

The harmonized index went down 0.2 percent on the month (from a flat reading in October) and inched up 1.1 percent on the year (the same pace as in October).


Thursday November 30 2017
Italy Jobless Rate Stable at 11.1% in October
Istat | Luisa Carvalho | luisa.carvalho@tradingeconomics.com

Italy's seasonally adjusted jobless rate stood at 11.1 percent in October of 2017, unchanged from September and in line with market expectations.The number of both unemployed and employed fell slightly.

There were 2.879 million unemployed people in October of 2017, 4 thousand less than in the previous month. Meanwhile, employment decreased by 5 thousand to 23.082 million and the number of detached from the labour force went down by 5 thousand to 13.348 million.

The unemployment rate among women decreased to 12.2 percent in October 2017 from 12.3 percent in the prior month, while among men rose to 10.3 percent from 10.2 percent.

Youth unemployment rate, measuring job-seekers between 15 and 24 years old, fell to 34.7 percent from 35.4 percent in September.

The overall employment rate, one of the lowest in the Euro Area, remained unchanged at 58.1 percent.




Thursday November 16 2017
Italy Trade Surplus Widens in September
Istat | Luisa Carvalho | luisa.carvalho@tradingeconomics.com

Italy's trade surplus increased to EUR 4 billion in September of 2017 from EUR 2.76 billion in the same month of the previous year and above market consensus of EUR 3.42 billion. Exports surged 5.7 percent from a year earlier to EUR 38.06 billion mostly driven by sales of coke and refined petroleum products. Meantime, imports advanced at a slower 5.5 percent to EUR 34.07 billion, underpinned by purchases of crude oil and coke and refined petroleum products. With European Union countries, the trade surplus shrank to EUR 0.47 billion from EUR 0.83 billion in September 2016.

Year-on-year, exports rose 5.7 percent to EUR 38.06 billion from EUR 36 billion, driven by higher sales of: Coke and refined petroleum products (35.2 percent); pharmaceutical, chemical and botanical articles (16.7 percent); transport equipment (13.3 percent) and basic metals and metal products (7.6 percent). In contrast, exports fell for other products of processing of non-metallic minerals (-3 percent); vehicles (-1.4 percent) and paper and paper products, printing and reproduction of media (-1.3 percent).

The biggest increases in shipments were recorded for Russia (22.5 percent); Turkey (20.9 percent); China (18.7 percent); Mercosur countries (15.5 percent) and Belgium (12.7 percent). Conversely, exports fell to OPEC countries (-5.3 percent) and to the United Kingdom (-3.7 percent).

Imports advanced 5.5 percent to EUR 34.07 billion from EUR 32.30 billion in September of 2016, led by gains in purchases of: Crude oil (24.5 percent); coke and refined petroleum products (22.6 percent) and electrical equipment (14.5 percent). Meanwhile, imports declined for sport and leisure articles (-9.5 percent); pharmaceutical, chemical and botanical articles (-6.9 percent); vehicles (-4.1 percent) and natural gas (-3.3 percent). 

Imports grew mostly from India (16.2 percent); Poland (15.4 percent); OPEC countries (12.5 percent); Germany (10.6 percent) and the Netherlands (9.4 percent). On the other hand, purchases declined from: Switzerland (-10.2 percent); ASEAN countries (-8.7 percent); the United Kingdom (-8.6 percent); Japan (-8 percent) and Czech Republic (-2.2 percent).

Considering the January to September period, the global trade surplus shrank to EUR 32.37 billion from EUR 35.76 billion in the same period of 2016, as imports grew 9.5 percent and exports rose at a slower 7.3 percent.




Tuesday November 14 2017
Italian Inflation Rate Confirmed at 1% in October
Istat | Marta Dubiel | marta.dubiel@tradingeconomics.com

Consumer prices in Italy increased 1.0 percent year-on-year in October of 2017, compared to 1.1 percent rise in the previous month and matching preliminary estimates. It was the lowest inflation rate since January, mainly due to a slowdown in prices of education and services, after students from low-income households started being exempted from paying the annual university fee.

Consumer prices in Italy increased 1.0 percent year-on-year in October of 2017, compared to 1.1 percent rise in the previous month and matching preliminary estimates. It was the lowest inflation rate since January, mainly due to a slowdown in prices of education and services, after students from low-income households started being exempted from paying the annual university fee.

Year-on-year, prices decreased significantly for education (-16.1 percent vs -0.8 percent in September). Also, cost advanced less for transport (2.4 percent vs 2.6 percent); restaurants and hotels (1.7 percent vs 2.1 percent); clothing and footwear (0.2 percent vs 0.3 percent) and miscellaneous goods and services (0.6 percent vs 0.8 percent).

Meanwhile, prices rose faster for food and non-alcoholic beverages (2.1 percent vs 1.4 percent) and housing and utilities (1.8 percent vs 1.7 percent).

Annual core inflation rate, which excludes energy and unprocessed food eased to 0.5 percent from 0.7 percent in the previous month. Excluding only energy, the inflation was steady at 0.8 percent.

On a monthly basis, consumer prices went down 0.2 percent, compared to a 0.3 percent fall in September.

The harmonized index was unchanged on the month (1.8 percent in September) and inched up 1.1 percent on the year (1.3 percent in September).


Tuesday November 14 2017
Italy GDP Growth Beats Forecasts in Q3
Joana Taborda | joana.taborda@tradingeconomics.com

The Italian economy advanced 0.5 percent on quarter in the third quarter of 2017, higher than a downwardly revised 0.3 percent rise in the previous period and beating market expectations of 0.4 percent. The expansion was driven by firm domestic demand and rising exports. On the production side, industry and services expanded, while agriculture contracted.

Year-on-year, the economy advanced 1.8 percent, above 1.5 percent in the previous period and marking the fastest growth rate since the first quarter of 2011.

The government forecasts 2017 growth at 1.5 percent which would be the strongest rate since 2010.


Tuesday October 31 2017
Italy September Inflation Rate Lowest in 9 Months
Istat | Luisa Carvalho | luisa.carvalho@tradingeconomics.com

Italy's consumer prices are expected to rise 1 percent year-on-year in October of 2017, compared to a 1.1 percent gain in the previous month and below market expectations of 1.3 percent. It was the lowest inflation rate since January, mainly due to a fall in education and services prices after students from low-income households started being exempted from paying the annual university fee, preliminary estimates showed.

Year-on-year, prices prices decreased significantly for education (-16.1 percent vs -0.8 percent in September) and miscellaneous services (-1.1 percent vs 0.6 percent), within which university education is included. Also, cost advanced less for transport (2.4 percent vs 2.6 percent); restaurants and hotels (1.8 percent vs 2.1 percent) and miscellaneous goods and services (0.6 percent vs 0.8 percent).

In contrast, cost rose faster for food and non-alcoholic beverages (2.1 percent vs 1.4 percent) and housing and utilities (1.8 percent vs 1.7 percent).

Annual core inflation rate, which excludes energy and unprocessed food eased to 0.5 percent from 0.7 percent in the previous monh. Excluding only energy, the inflation was steady at 0.8 percent.

On a monthly basis, consumer prices went down 0.2 percent, compared to a 0.3 percent fall in September.

The harmonized index was unchanged on the month (1.8 percent in September) and inched up 1.1 percent on the year (1.3 percent in September).


Tuesday October 31 2017
Italy September Jobless Rate Unchanged at 11.1%
Istat | Joana Ferreira | joana.ferreira@tradingeconomics.com

Italy's seasonally adjusted jobless rate stood at 11.1 percent in September 2017, unchanged from the revised August's figure and in line with market expectations. The number of unemployed persons fell by 5 thousand from the previous month while employment increased by 2 thousand.

There were 2.891 million unemployed people, 5 thousand less than in the previous month. Meanwhile, employment rose by 2 thousand to 23.138 million and those detached from the labour force went up by 25 thousand to 13.320 million.

Youth unemployment rate, measuring job-seekers between 15 and 24 years old, rose to 35.7 percent from 35.1 percent in August.

Italy's overall employment rate, one of the lowest in the Euro Area, edged down to 58.1 percent in September from 58.2 percent in August.

Considering the third quarter of the year, Italy's economy added 120 thousand jobs, almost all of them temporary contracts. At the same time, unemployment rose by 5 thousand from the previous quarter and those detached from the labour force dropped by 128 thousand.


Tuesday October 17 2017
Italy Trade Surplus Widens Less than Expected in August
Istat | Joana Ferreira | joana.ferreira@tradingeconomics.com

Italy's trade surplus widened to EUR 2.77 billion in August 2017 from EUR 2.49 billion in the same month of the previous year but worse than market expectations of EUR 4.23 billion.

Year-on-year, exports rose 8.4 percent to EUR 29.38 billion from EUR 27.10 billion, boosted by higher sales of: Coke and refined petroleum products (26.2 percent); sport and leisure articles (20.1 percent); chemicals (17.8 percent); basic metals and metal products (12.5 percent); and pharmaceutical, chemical and botanical articles (11.7 percent). By contrast, exports of vehicles fell 13.8 percent.

Exports rose the most to China (26.5 percent), Russia (20.9 percent), MERCOSUR (16.7 percent); Czech Republic (15.3 percent); and Turkey (14.5 percent). Meanwhile, sales fell mainly to OPEC countries (-6 percent).

Imports increased 8.2 percent to EUR 26.61 billion from EUR 24.60 billion in August 2016, led by gains in purchases of: Coke and refined petroleum products (51.5 percent); crude oil (24.8 percent); natural gas (24.3 percent); basic metals and metal products (15 percent); and paper and paper products; products of printing and reproduction of recorded media (14.6 percent). Meanwhile, imports of pharmaceutical, chemical and botanical articles fell 10.6 percent.

The rise in imports mainly reflected the increase in purchases from Russia (54.7 percent), France (15.1 percent), Austria (15.1 percent), India (14.8 percent) and Poland (11.9 percent). By contrast, imports fell from ASEAN countries (-11.2 percent) and Switzerland (-8.6 percent).

With European Union countries, the trade surplus decreased to EUR 0.24 billion from EUR 0.37 billion in August 2016.