Italy's economy shrank by a record 17.3 percent year-on-year in the second quarter of 2020, entering a steep recession and compared to market expectations of a 18.7 percent fall, a preliminary estimate showed, as coronavirus-induced lockdowns hit activity and consumption.
GDP Annual Growth Rate in Italy averaged 2.26 percent from 1961 until 2020, reaching an all time high of 10.30 percent in the fourth quarter of 1961 and a record low of -17.30 percent in the second quarter of 2020. This page provides the latest reported value for - Italy GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Italy GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: National Institute of Statistics (ISTAT)
GDP Annual Growth Rate in Italy is expected to be -10.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Italy to stand at 16.20 in 12 months time. In the long-term, the Italy GDP Annual Growth Rate is projected to trend around 2.90 percent in 2021 and 2.00 percent in 2022, according to our econometric models.