Markets Actual Q3 Q4 Q1 Q2 2021
Currency 1.19 1.18 1.17 1.17 1.17 1.16
Stock Market (points) 19740.20 19280 18795 18324 17864 16942
Government Bond 10Y (%) 1.05 1.07 1.13 1.19 1.26 1.39
2 Year Note Yield (%) -0.04 0 0.01 0.01 0.02 0.03

Overview Actual Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) -12.40 7.5 4.4 2.9 1.9 1.6
GDP Annual Growth Rate (%) -17.30 -10.3 -4 1 16.2 2.9
Unemployment Rate (%) 8.80 12 12.5 12.1 11.6 11.1
Inflation Rate (%) -0.30 -0.7 -0.4 -0.1 0.6 1.1
Inflation Rate Mom (%) -0.10 -0.4 0.5 -0.3 0.3 0.5
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) 5584.00 2000 5400 4160 4200 3900
Current Account (EUR Million) 2272.00 2290 2210 1900 2400 1910
Current Account to GDP (%) 3.00 3.4 3.4 3.2 3.2 3.2
Government Debt to GDP (%) 134.80 157 157 152 152 152
Government Budget (% of GDP) -1.60 -10.6 -10.6 -5.8 -5.8 -5.8
Business Confidence (points) 85.20 76 82 85 84 89
Manufacturing PMI (points) 51.90 47 49 51 53 54
Services PMI (points) 51.60 43 44 50 52.9 52.9
Consumer Confidence (points) 100.00 95 99 99 100 105
Retail Sales MoM (%) 12.10 -1.4 -0.8 1.1 0.9 0.6
Corporate Tax Rate (%) 24.00 24 24 24 24 24
Personal Income Tax Rate (%) 43.00 43 43 43 43 43

GDP Actual Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) -12.40 7.5 4.4 2.9 1.9 1.6
GDP Annual Growth Rate (%) -17.30 -10.3 -4 1 16.2 2.9
GDP (USD Billion) 2001.24 1800 1800 1920 1920 1920
GDP Constant Prices (EUR Million) 356646.80 416390 412941 411381 473292 424916
Gross Fixed Capital Formation (EUR Million) 71971.60 75956 75401 72691 83631 77588
GDP per capita (USD) 35613.80 33800 33800 34600 34600 34600
GDP per capita PPP (USD) 42412.70 39400 39400 40600 40600 40600
GDP From Agriculture (EUR Million) 8099.80 7845 7925 8181 9412 8155
GDP From Construction (EUR Million) 16110.00 16579 16424 16271 18720 16901
GDP From Manufacturing (EUR Million) 68823.10 73515 72297 69511 79972 74394
GDP From Services (EUR Million) 273297.00 276309 274454 276030 317571 282414

Labour Actual Q3 Q4 Q1 Q2 2021
Unemployment Rate (%) 8.80 12 12.5 12.1 11.6 11.1
Employed Persons (Thousand ) 22701.57 20900 20500 20800 21200 21700
Unemployed Persons (Thousand ) 2203.51 2620 3200 3100 3000 2890
Employment Rate (%) 57.50 55.5 55.1 55.4 55.9 56.4
Labor Force Participation Rate (%) 63.20 60.6 60.2 60 60.4 60.9
Long Term Unemployment Rate (%) 5.00 5 5 4.6 4.1 4.1
Youth Unemployment Rate (%) 27.60 23.5 23.5 23.1 22.6 22.6
Labour Costs (points) 109.90 109 109 109 110 110
Wages (EUR/Month) 2467.00 2428 2418 2447 2472 2442
Wages in Manufacturing (points) 103.30 101 101 102 103 102
Wage Growth (%) 0.60 -1.6 -2 -0.8 0.2 1
Population (Million) 60.36 60.26 60.26 60.15 60.15 60.15
Retirement Age Women 67.00 67 67 67.25 67.25 67.25
Retirement Age Men 67.00 67 67 67.25 67.25 67.25
Employment Change (%) -0.30 0.2 -0.6 0.3 0.4 0.5

Prices Actual Q3 Q4 Q1 Q2 2021
Inflation Rate (%) -0.30 -0.7 -0.4 -0.1 0.6 1.1
Inflation Rate Mom (%) -0.10 -0.4 0.5 -0.3 0.3 0.5
Harmonised Consumer Prices (points) 103.20 -0.4 107 107 107 109
Consumer Price Index CPI (points) 102.80 102 102 103 104 104
Core Consumer Prices (points) 103.40 103 102 103 104 104
Core Inflation Rate (%) 0.70 0.1 0.2 0.4 0.7 1.2
GDP Deflator (points) 104.38 103 104 104 105 105
Producer Prices (points) 99.00 100 110 101 99.09 112
Producer Prices Change (%) -4.50 -3 -1.2 0.2 0.6 1.2
Food Inflation (%) 2.60 1.2 1.3 1.1 1.5 1.6
CPI Housing Utilities (points) 98.60 102 103 103 99.39 104
CPI Transportation (points) 103.70 105 105 104 104 106

Money Actual Q3 Q4 Q1 Q2 2021
Interest Rate (%) 0.00 0 0 0 0 0
Interbank Rate (%) -0.44 -0.38 -0.38 -0.38 -0.38 -0.38
Money Supply M2 (EUR Million) 1700862.00 1770000 1850000 1850000 1910000 1920000
Banks Balance Sheet (EUR Million) 3887871.19 4050000 4120000 4180000 4250000 4220000
Loans to Private Sector (EUR Million) 656901.00 672000 677000 685000 682000 685000
Private Debt to GDP (%) 166.20 179 179 177 177 177
Central Bank Balance Sheet (EUR Million) 1237566.60 1229000 1271000 1271000 1364000 1341000

Trade Actual Q3 Q4 Q1 Q2 2021
Balance of Trade (EUR Million) 5584.00 2000 5400 4160 4200 3900
Current Account (EUR Million) 2272.00 2290 2210 1900 2400 1910
Current Account to GDP (%) 3.00 3.4 3.4 3.2 3.2 3.2
Imports (EUR Million) 24922.50 25100 25500 26040 27200 33600
Exports (EUR Million) 30507.00 27100 30900 30200 31400 34400
External Debt (EUR Million) 2240148.00 2320000 2370000 2360000 2380000 2410000
Capital Flows (EUR Million) -6657.30 -1640 -3600 1980 2420 2980
Gold Reserves (Tonnes) 2451.80 2452 2452 2452 2452 2452
Tourism Revenues (EUR Million) 443.58 1100 1500 1620 2120 2200
Crude Oil Production (BBL/D/1K) 82.00 78 78 78 78 75
Foreign Direct Investment (EUR Million) 274.00 -4000 -2470 -2470 1500 980

Government Actual Q3 Q4 Q1 Q2 2021
Government Debt to GDP (%) 134.80 157 157 152 152 152
Government Budget (% of GDP) -1.60 -10.6 -10.6 -5.8 -5.8 -5.8
Government Budget Value (EUR Billion) -14.04 -19 -21 -61 -4 -15
Government Spending (EUR Million) 79038.50 87200 89500 89400 89200 89000
Government Spending to GDP (%) 48.70 59 59 52 52 52
Government Revenues (EUR Billion) 26.29 23 84 27 36 89
Government Debt (EUR Million) 2507579.50 2544000 2594000 2624000 2621000 2634000
Fiscal Expenditure (EUR Billion) 40.33 42 105 88 40 104

Taxes Actual Q3 Q4 Q1 Q2 2021
Corporate Tax Rate (%) 24.00 24 24 24 24 24
Personal Income Tax Rate (%) 43.00 43 43 43 43 43
Sales Tax Rate (%) 22.00 22 22 22 22 22
Social Security Rate (%) 39.49 39.49 39.49 39.49 39.49 39.49
Social Security Rate For Companies (%) 30.00 30 30 30 30 30
Social Security Rate For Employees (%) 9.49 9.49 9.49 9.49 9.49 9.49

Business Actual Q3 Q4 Q1 Q2 2021
Business Confidence (points) 85.20 76 82 85 84 89
Manufacturing PMI (points) 51.90 47 49 51 53 54
Services PMI (points) 51.60 43 44 50 52.9 52.9
Industrial Production (%) -20.30 -12 -6 15.1 25 4.6
Industrial Production Mom (%) 42.10 -2.3 1 0.5 0.6 0.6
Manufacturing Production (%) -21.70 -14 -8 16 27 5
Capacity Utilization (%) 63.80 66 67 65 69 72
New Orders (points) 76.10 85 84 89 91 98
Factory Orders (%) 42.20 -1.1 -0.8 1 0.9 0.6
Zew Economic Sentiment Index 48.60 6 2 1 12 10
Car Registrations 132457.00 91000 105000 99000 101000 132000
Mining Production (%) -16.30 -13 -4.8 16 20 4.5
Steel Production (Thousand Tonnes) 1810.00 2120 1660 1660 1660 1710
Bankruptcies (Companies) 3115.00 3600 4000 3800 3700 3600
Composite Pmi (points) 47.60 44 45 50.4 53.4 53.4

Consumer Actual Q3 Q4 Q1 Q2 2021
Consumer Confidence (points) 100.00 95 99 99 100 105
Retail Sales MoM (%) 12.10 -1.4 -0.8 1.1 0.9 0.6
Retail Sales YoY (%) -2.20 -3.6 -2.8 4.5 10.5 5.6
Consumer Spending (EUR Million) 245048.40 253528 251506 247499 284746 258800
Disposable Personal Income (EUR Million) 293805.00 289574 287402 296743 341401 295737
Personal Savings (%) 12.50 13.2 12.8 13 12.5 11.9
Households Debt To GDP (% of GDP) 40.50 51 51 49 49 49
Households Debt To Income (%) 60.95 67 67 65 65 65
Bank Lending Rate (%) 1.69 1.75 1.75 1.75 1.75 1.75
Consumer Credit (EUR Million) 108156.93 105210 106601 111580 125678 109692
Gasoline Prices (USD/Liter) 1.80 1.62 1.54 1.47 1.39 1.32

Housing Actual Q3 Q4 Q1 Q2 2021
Construction Output (%) -16.80 -12 -6 20.2 37.6 5.6
Housing Index (points) 99.40 94 95 97 99 102
Home Ownership Rate (%) 72.40 71 71 70 70 70
Construction Pmi (points) 51.60 46 49 51 54 52


This page has economic forecasts for Italy including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Italy economy.