Italy GDP Growth Rate  1960-2017 | Data | Chart | Calendar | Forecast

Italy's gross domestic product advanced 0.4 percent on quarter in the three months to June of 2017, unrevised from the preliminary estimate and following an increase of 0.4 percent in the previous period. The expansion was driven by firm consumer spending, a rebound in fixed investment and inventory accumulation. On the production side, industry and services activity expanded, while agriculture contracted. Year-on-year, the economy grew 1.5 percent, the most since the second quarter of 2011. GDP Growth Rate in Italy averaged 0.60 percent from 1960 until 2017, reaching an all time high of 6 percent in the first quarter of 1970 and a record low of -2.90 percent in the first quarter of 2009.

Italy GDP Growth Rate
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Italy Q2 GDP Growth Confirmed at 0.4%


Italy's gross domestic product advanced 0.4 percent on quarter in the three months to June of 2017, unrevised from the preliminary estimate and following an increase of 0.4 percent in the previous period. The expansion was driven by firm consumer spending, a rebound in fixed investment and inventory accumulation.

From the expenditure side, the positive contribution to GDP growth came from household consumption (0.2 percentage points), fixed investment (0.1 percentage points) and inventory changes (0.1 percentage points). Meanwhile, both government spending and net exports offered no contribution to quarterly growth.

Household expenditure grew 0.3 percent (0.5 percent in Q1) and gross fixed capital formation rebounded by 0.7 percent (-1.6 percent in Q1), boosted by stronger investment in machinery and equipment (0.6 percent from -4.5 percent in Q1) and transport equipment (8.2 percent from 2 percent in Q1). Meanwhile, investment in construction contracted 0.4 percent (0.7 percent in Q1). Also, government spending edged down 0.1 percent (0.5 percent in Q1), and net external demand made no contribution to growth, with rises in imports and exports canceling each other out. Imports increased 0.7 percent (1.6 percent in Q1) and exports went up 0.6 percent (1.6 percent in Q1).

From the production side, service sector grew 0.4 percent (0.6 percent in Q1); and industrial output expanded 0.6 percent percent (-0.3 percent in Q1), as manufacturing rose 0.9 percent (-0.5 percent in Q1) while construction shrank 0.4 percent (0.5 percent in Q1). By contrast, agriculture contracted 2.2 percent (3.5 percent in Q1).

Compared with the same quarter a year earlier, the economy expanded 1.5 percent after growing 1.2 percent in the previous period, in line with the preliminary estimate. It was the strongest pace of expansion since the second quarter of 2011.

The government of Prime Minister Paolo Gentiloni is expected to raise its forecast for 2017 GDP growth to around 1.4 percent when it issues new economic targets next month, up from a current target of 1.1 percent.

Istat | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/1/2017 8:52:49 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-06-01 08:00 AM GDP Growth Rate QoQ Final 0.4% 0.3% 0.2% 0.2%
2017-08-16 08:00 AM GDP Growth Rate QoQ Adv 0.4% 0.4% 0.4% 0.4%
2017-09-01 08:00 AM GDP Growth Rate QoQ Final 0.4% 0.4% 0.4% 0.4%
2017-11-14 09:00 AM GDP Growth Rate QoQ Adv 0.4% 0.4%
2017-12-01 09:00 AM GDP Growth Rate QoQ Final 0.4% 0.4%


Italy GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.40 0.40 6.00 -2.90 percent [+]
GDP Annual Growth Rate 1.50 1.20 10.30 -7.10 percent [+]
GDP 1849.97 1824.90 2390.73 40.39 USD Billion [+]
GDP Constant Prices 397445.20 395962.90 424823.80 294839.30 EUR Million [+]
Gross Fixed Capital Formation 68865.70 68386.60 93295.10 52865.10 EUR Million [+]
GDP per capita 34283.70 33911.93 38236.80 10867.70 USD [+]
GDP per capita PPP 34620.13 34244.71 38612.01 31141.90 USD [+]
GDP From Agriculture 7133.00 7291.00 7857.80 6480.20 EUR Million [+]
GDP From Construction 15995.00 16063.00 24295.40 15826.00 EUR Million [+]
GDP From Manufacturing 68414.00 67828.00 78814.70 62017.90 EUR Million [+]
GDP From Services 267424.00 266482.00 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 September of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
0.40 0.40 6.00 -2.90 1960 - 2017 percent Quarterly
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gdp growth rate by Country

Last
Indonesia 4.00 Jun/17
United States 3.00 Jun/17
Turkey 2.10 Jun/17
China 1.70 Jun/17
India 1.50 Mar/17
Netherlands 1.50 Jun/17
Canada 1.10 Jun/17
Spain 0.90 Jun/17
Australia 0.80 Jun/17
Euro Area 0.60 Jun/17
Germany 0.60 Jun/17
Japan 0.60 Jun/17
Mexico 0.60 Jun/17
South Korea 0.60 Jun/17
France 0.50 Jun/17
Italy 0.40 Jun/17
Switzerland 0.30 Jun/17
United Kingdom 0.30 Jun/17
Brazil 0.20 Jun/17
Russia -0.57 Sep/15