Italy's economy stagnated in the second quarter of 2019, after a 0.1 percent growth in the previous three-month period and in line with a preliminary estimate and market expectations, final data showed. A contraction in industrial and agriculture activities offset a rise in the services sector. On the expenditure side, trade, household consumption and government spending made zero contribution to growth while a positive contribution from investment was offset by inventories. GDP Growth Rate in Italy averaged 0.59 percent from 1960 until 2019, reaching an all time high of 6 percent in the first quarter of 1970 and a record low of -2.70 percent in the first quarter of 2009.

GDP Growth Rate in Italy is expected to be 0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Italy to stand at 0.30 in 12 months time. In the long-term, the Italy GDP Growth Rate is projected to trend around 0.60 percent in 2020, according to our econometric models.

Italy GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-04-30 10:00 AM GDP Growth Rate QoQ Adv Q1 0.2% -0.1% 0.1% -0.1%
2019-05-31 08:00 AM GDP Growth Rate QoQ Final Q1 0.1% -0.1% 0.2% 0.2%
2019-07-31 10:00 AM GDP Growth Rate QoQ Adv Q2 0% 0.1% -0.1% 0.0%
2019-08-30 10:00 AM GDP Growth Rate QoQ Final Q2 0% 0.1% 0% 0%
2019-10-31 11:00 AM GDP Growth Rate QoQ Adv Q3 0% 0.2%
2019-11-29 11:00 AM GDP Growth Rate QoQ Final Q3 0% 0.2%



Italian Economy Stalls in Q2

Italy's economy stagnated in the second quarter of 2019, after a 0.1 percent growth in the previous three-month period and in line with a preliminary estimate and market expectations, final data showed. A contraction in industrial and agriculture activities offset a rise in the services sector.

From the production side, the industrial sector shrank 0.4 percent, following a 0.8 percent expansion in the first quarter of the year, due to manufacturing (-0.4 percent vs 0.5 percent in Q1) and construction (-0.5 percent vs 2.3 percent). Agricultural output contracted 1.2 percent in the three months to June, after rising 3.0 percent in the prior period. On the other hand, services activities grew 0.1 percent, rebounding from a 0.1 percent contraction in the first three months of 2019, mainly boosted by professional and support activities (1.0 percent vs -1.1 percent); real estate (0.3 percent vs 0.2 percent); service activities (0.4 percent vs -0.3 percent); trade, transport and accommodation (a flat reading vs -0.2 percent); and public administration, defense, education, health (a flat reading vs 0.3 percent). Additionally,  financial and insurance activities dropped 0.1 percent, less than a 0.9 percent contraction in Q1 while information and communication services dropped 0.9 percent, after increasing 0.2 percent.

From the expenditure side, fixed investment contributed positively by 0.3 percent to the GDP while inventory changes substracted 0.3 percentage points to the gross domestic product. Meantime, net exports, consumer spending and government spending made a zero contribution to growth. 

Fixed investment advanced 1.9 percent, faster than a 0.7 percent expansion in the first three months of the year, mostly boosted by a rebound in machinery and equipment (5.3 percent vs -1.7 percent) and transport equipment (5.8 percent vs -2.2 percent). Meantime, household consumption was flat, following a 0.1 percent growth in th first quarter  while government expenditure contracted 0.1 percent, after a 0.2 percent expansion. Exports increased 1 percent in the first quarter of the year (vs 0.3 percent in Q4) while imports rose 1.1 percent (vs -1.6 percent in Q1). 

Year-on-year, the economy shrank 0.1 percent, the same as in the first quarter of the year and below a preliminary estimate and market consensus of no growth.

Italy's government expects GDP growth at 0.2 percent in 2019, slowing from 0.9 percent in 2018.


Istat | Stefanie Moya | stefanie.moya@tradingeconomics.com
8/30/2019 10:49:52 AM



Italy GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.00 0.10 6.00 -2.70 percent [+]
GDP Annual Growth Rate -0.10 -0.10 10.30 -7.20 percent [+]
GDP 2073.90 1946.57 2390.73 40.39 USD Billion [+]
GDP Constant Prices 403786.00 403659.00 425552.00 294839.30 EUR Million [+]
Gross Fixed Capital Formation 76093.00 74696.40 93562.20 52865.10 EUR Million [+]
GDP per capita 35391.70 35029.40 38236.80 10867.70 USD [+]
GDP per capita PPP 35739.00 35373.20 38612.00 31141.90 USD [+]
GDP From Agriculture 7111.00 7195.00 7937.20 6494.70 EUR Million [+]
GDP From Construction 16737.00 16813.00 24477.10 15831.00 EUR Million [+]
GDP From Manufacturing 70324.00 70605.00 78895.40 61823.30 EUR Million [+]
GDP From Services 271777.00 271374.00 272080.50 224998.40 EUR Million [+]


Italy GDP Growth Rate

Italy is the ninth largest economy in the world and the third largest in the Euro Zone. The country has a diversified industrial base driven in large part by manufacturing of high-quality consumer goods. Composition of the GDP on the expenditure side: household consumption (61 percent), government expenditure (19 percent) and gross fixed capital formation (17 percent). Exports of goods and services account for 30 percent of GDP while imports for 27 percent, adding 3 percent to total GDP. This page provides - Italy GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Italy GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on October of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.00 0.10 6.00 -2.70 1960 - 2019 percent Quarterly
SA




Country Last Previous
Indonesia 4.20 Jun/19
South Africa 3.10 Jun/19
United States 2.00 Jun/19
China 1.50 Sep/19
Turkey 1.20 Jun/19
India 1.00 Jun/19
South Korea 1.00 Jun/19
Canada 0.90 Jun/19
Singapore 0.60 Sep/19
Australia 0.50 Jun/19
Brazil 0.40 Jun/19
Netherlands 0.40 Jun/19
Spain 0.40 Jun/19
France 0.30 Jun/19
Japan 0.30 Jun/19
Switzerland 0.30 Jun/19
Euro Area 0.20 Jun/19
Russia 0.20 Jun/19
Italy 0.00 Jun/19
Mexico 0.00 Jun/19
Germany -0.10 Jun/19
United Kingdom -0.20 Jun/19
Argentina -0.30 Jun/19
Saudi Arabia -1.30 Mar/19


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