Markets Actual Q1 Q2 Q3 Q4 2022
Currency 1.21 1.21 1.21 1.2 1.2 1.19
Stock Market (points) 22887.67 23118 22537 21973 21420 20315
Government Bond 10Y (%) 0.76 0.85 0.9 0.94 1 1.1
2 Year Note Yield (%) -0.29 0.03 0.07 0.11 0.16 0.25

Overview Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) -2.00 -0.6 0.7 2.3 1.2 0.6
GDP Annual Growth Rate (%) -6.60 -2.3 14.2 3.5 2.9 2
Unemployment Rate (%) 9.00 11.6 12 11.4 11.1 10.2
Inflation Rate (%) 0.40 0.5 0.6 0.8 1.1 1.4
Inflation Rate Mom (%) 0.70 -0.3 0.3 0.4 0.4 0.5
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) 6843.54 5400 4160 4200 3900 3900
Current Account (EUR Million) 6715.00 1900 2400 1980 1910 1750
Current Account to GDP (%) 3.00 3.2 3.2 3.2 3.2 2.8
Government Debt to GDP (%) 134.80 152 152 152 152 148
Government Budget (% of GDP) -1.60 -5.8 -5.8 -5.8 -5.8 -3.1
Business Confidence (points) 99.00 85 84 86 89 95
Manufacturing PMI (points) 55.10 51 53 52.4 54 54
Services PMI (points) 44.70 50 52.9 52.5 52.9 52.9
Consumer Confidence (points) 101.40 99 100 102 105 102
Retail Sales MoM (%) 2.50 1.1 0.9 -1 0.6 0.4
Corporate Tax Rate (%) 24.00 24 24 24 24 24
Personal Income Tax Rate (%) 43.00 43 43 43 43 43

GDP Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) -2.00 -0.6 0.7 2.3 1.2 0.6
GDP Annual Growth Rate (%) -6.60 -2.3 14.2 3.5 2.9 2
GDP (USD Billion) 2001.24 1920 1920 1920 1920 2000
GDP Constant Prices (EUR Million) 402219.90 397978 404548 426049 413884 422162
Gross Fixed Capital Formation (EUR Million) 79545.30 71084 69669 82329 81852 83489
GDP per capita (USD) 35613.80 34600 34600 34600 34600 35200
GDP per capita PPP (USD) 42412.70 40600 40600 40600 40600 41200
GDP From Agriculture (EUR Million) 7855.30 7905 8897 8130 8083 8245
GDP From Construction (EUR Million) 17757.20 15440 13896 18379 18272 18638
GDP From Manufacturing (EUR Million) 71920.80 67052 62730 74438 74007 75487
GDP From Services (EUR Million) 271377.30 267186 277137 280876 279247 284832

Labour Actual Q1 Q2 Q3 Q4 2022
Unemployment Rate (%) 9.00 11.6 12 11.4 11.1 10.2
Employed Persons (Thousand ) 22839.36 21800 21200 21500 21700 22700
Unemployed Persons (Thousand ) 2257.37 2900 3000 2940 2890 2890
Employment Rate (%) 58.00 57.2 56.9 57.1 57.4 57.9
Labor Force Participation Rate (%) 63.90 63.6 63.4 63 63.6 65.2
Long Term Unemployment Rate (%) 5.10 7.8 8.2 7.6 7.3 7.3
Youth Unemployment Rate (%) 29.70 32.2 32.6 32 31.7 31.7
Labour Costs (points) 109.70 111 115 120 115 112
Wages (EUR/Month) 2502.00 2510 2507 2505 2580 2530
Wages in Manufacturing (points) 103.60 103 103 103 121 104
Wage Growth (%) 0.60 0.2 0.1 0.4 0.8 1.2
Population (Million) 60.36 60.15 60.15 60.15 60.15 60.04
Retirement Age Women 67.00 67.25 67.25 67.25 67.25 67.25
Retirement Age Men 67.00 67.25 67.25 67.25 67.25 67.25
Employment Change (%) 0.90 0.3 0.4 0.3 0.5 0.5

Prices Actual Q1 Q2 Q3 Q4 2022
Inflation Rate (%) 0.40 0.5 0.6 0.8 1.1 1.4
Inflation Rate Mom (%) 0.70 -0.3 0.3 0.4 0.4 0.5
Harmonised Consumer Prices (points) 102.60 107 107 107 109 109
Consumer Price Index CPI (points) 103.30 103 104 103 104 105
Core Consumer Prices (points) 103.20 104 102 103 105 105
Core Inflation Rate (%) 0.80 0.4 0.7 1 1.2 1.2
GDP Deflator (points) 104.45 105 106 105 106 107
Producer Prices (points) 101.10 101 100 99.59 112 102
Producer Prices Change (%) -1.80 -0.8 0.6 0.9 1.2 1.6
Food Inflation (%) 0.70 1.1 1.5 1.4 1.6 1.8
CPI Housing Utilities (points) 103.00 104 99.39 99.09 103 104
CPI Transportation (points) 103.80 105 104 103 104 105

Money Actual Q1 Q2 Q3 Q4 2022
Interest Rate (%) 0.00 0 0 0 0 0
Interbank Rate (%) -0.54 -0.54 -0.54 -0.54 -0.54 -0.54
Money Supply M2 (EUR Million) 1809809.00 1820000 1870000 1910000 1910000 1920000
Banks Balance Sheet (EUR Million) 3846535.62 4180000 4250000 4230000 4230000 4260000
Loans to Private Sector (EUR Million) 667998.00 685000 682000 679000 685000 691000
Private Debt to GDP (%) 166.20 177 177 177 177 175
Central Bank Balance Sheet (EUR Million) 1367223.90 1321000 1364000 1361000 1341000 1401000

Trade Actual Q1 Q2 Q3 Q4 2022
Balance of Trade (EUR Million) 6843.54 5400 4160 4200 3900 3900
Current Account (EUR Million) 6715.00 1900 2400 1980 1910 1750
Current Account to GDP (%) 3.00 3.2 3.2 3.2 3.2 2.8
Imports (EUR Million) 31988.98 26040 27200 37400 33600 33600
Exports (EUR Million) 38832.52 30200 31400 40500 34400 42400
External Debt (EUR Million) 2295928.00 2360000 2380000 2400000 2410000 2450000
Capital Flows (EUR Million) 9161.30 1980 2420 2500 2980 3020
Gold Reserves (Tonnes) 2451.84 2452 2452 2452 2452 2452
Tourism Revenues (EUR Million) 528.30 1510 2720 3200 1900 2300
Crude Oil Production (BBL/D/1K) 81.00 70 70 70 70 70
Foreign Direct Investment (EUR Million) -4644.00 2560 1500 3650 980 510

Government Actual Q1 Q2 Q3 Q4 2022
Government Debt to GDP (%) 134.80 152 152 152 152 148
Government Budget (% of GDP) -1.60 -5.8 -5.8 -5.8 -5.8 -3.1
Government Budget Value (EUR Billion) -45.93 -4.9 -21 -61 -5.9 -5.9
Government Spending (EUR Million) 79462.50 85400 89200 88700 89000 88900
Government Spending to GDP (%) 48.70 52 52 52 52 48
Government Revenues (EUR Billion) 86.92 27 36 27 89 95
Government Debt (EUR Million) 2569257.50 2624000 2621000 2628000 2634000 2694000
Fiscal Expenditure (EUR Billion) 132.85 88 40 41 104 101

Taxes Actual Q1 Q2 Q3 Q4 2022
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 25 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 Q1 Q2 Q3 Q4 2022
Business Confidence (points) 99.00 85 84 86 89 95
Manufacturing PMI (points) 55.10 51 53 52.4 54 54
Services PMI (points) 44.70 50 52.9 52.5 52.9 52.9
Industrial Production (%) -2.00 15.1 25 11 4.6 2.5
Industrial Production Mom (%) -0.20 0.5 0.6 -1.2 0.6 0.6
Manufacturing Production (%) -4.20 16 27 12 5 2.6
Capacity Utilization (%) 74.90 72 69 70 72 75
New Orders (points) 123.00 89 91 92 98 110
Factory Orders (%) 1.70 1 0.9 -0.6 0.6 0.6
Zew Economic Sentiment Index 56.80 25 12 8 10 9
Car Registrations 134001.00 99000 101000 99000 132000 155000
Mining Production (%) -5.80 16 20 10 4.5 2
Bankruptcies (Companies) 3115.00 3800 3700 3200 3600 3600
Composite PMI (points) 47.20 50.4 53.4 52.8 53.4 54

Consumer Actual Q1 Q2 Q3 Q4 2022
Consumer Confidence (points) 101.40 99 100 102 105 102
Retail Sales MoM (%) 2.50 1.1 0.9 -1 0.6 0.4
Retail Sales YoY (%) -3.10 4.5 10.5 3 5.6 2
Consumer Spending (EUR Million) 243217.50 238883 247460 251730 250271 255276
Disposable Personal Income (EUR Million) 295932.00 289618 313339 306290 304514 310604
Personal Savings (%) 14.60 13 12.5 12.2 11.7 10.8
Households Debt To GDP (% of GDP) 43.60 49 49 49 49 47
Households Debt To Income (%) 61.56 65 65 65 65 64
Bank Lending Rate (%) 1.84 1.84 1.84 1.84 1.84 1.84
Consumer Credit (EUR Million) 110055.68 107934 124002 113003 113247 115512
Gasoline Prices (USD/Liter) 1.92 1.82 1.73 1.65 1.56 1.49

Housing Actual Q1 Q2 Q3 Q4 2022
Construction Output (%) -1.50 20.2 37.6 10.5 5.6 2
Housing Index (points) 99.80 97 99 100 102 104
Home Ownership Rate (%) 72.40 70 70 70 70 67
Construction PMI (points) 48.70 51 54 53.2 52 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.