Italy’s GDP shrank 5.4 percent year-on-year in the first quarter of 2020, following a 0.1 percent expansion at the end of 2019 and compared to preliminary estimates of a 4.8 percent decline. It was the steepest contraction since Q2 2009. On a quarterly basis, the economy recorded a record 5.3 percent contraction, steeper than earlier estimates of a 4.7 percent drop.
GDP Annual Growth Rate in Italy averaged 2.35 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 -7.20 percent in the first quarter of 2009. 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 June of 2020. source: National Institute of Statistics (ISTAT)
GDP Annual Growth Rate in Italy is expected to be -18.00 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 1.00 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.