Markets Actual Q3 Q4 Q1 Q2 2023
Currency 1.03 1.03 1.02 1.01 1 0.97
Stock Market (points) 20705.06 20526 19730 18965 18228 16841
Government Bond 10Y (%) 3.27 3.4 3.61 3.84 4.08 4.62

Overview Actual Q3 Q4 Q1 Q2 2023
GDP Growth Rate (%) 0.10 0.2 0.5 0.4 0.3 0.4
GDP Annual Growth Rate (%) 6.20 0.6 0.4 1.4 2 2.3
Unemployment Rate (%) 8.10 8.6 8.9 8.7 8.6 8.8
Inflation Rate (%) 8.00 6.2 4.2 3.5 3 2.2
Inflation Rate Mom (%) 1.20 -0.3 0.5 0.2 0.3 0.5
Interest Rate (%) 0.00 0.75 1.25 1.5 1.75 1.75
Balance of Trade (EUR Million) -3666.00 -6600 -3300 -900 -600 5900
Current Account (EUR Million) -2190.00 2600 1870 2980 2950 1510
Current Account to GDP (% of GDP) 3.60 3.2 3.2 3.5 3.5 3.5
Government Debt to GDP (% of GDP) 150.80 148 148 147 147 147
Government Budget (% of GDP) -7.20 -5.7 -5.7 -4.5 -4.5 -4.5
Business Confidence (points) 110.00 105 102 102 102 103
Manufacturing PMI (points) 50.90 52.5 57 54 53.5 55
Services PMI (points) 51.60 53.4 54 55 53.8 54.8
Consumer Confidence (points) 98.30 107 106 105 104 105
Retail Sales MoM (%) 0.00 -0.8 0.5 0.4 0.3 0.5
Corporate Tax Rate (%) 24.00 24 24 24 24 24
Personal Income Tax Rate (%) 43.00 43 43 43 43 43

GDP Actual Q3 Q4 Q1 Q2 2023
GDP Growth Rate (%) 0.10 0.2 0.5 0.4 0.3 0.4
GDP Annual Growth Rate (%) 6.20 0.6 0.4 1.4 2 2.3
GDP (USD Billion) 1886.45 2000 2000 2380 2380 2380
GDP Constant Prices (EUR Million) 428312.30 425000 427572 430313 434309 440210
Gross Fixed Capital Formation (EUR Million) 90338.00 83684 83382 86889 91603 88887
GDP per capita (USD) 29287.08 35200 35200 35200 35200 36000
GDP per capita PPP (USD) 38992.15 41200 41200 41200 41200 42000
Full Year GDP Growth (%) 6.60 3.1 3.1 2.4 2.4 2.4
GDP From Agriculture (EUR Million) 7869.40 8100 7779 7760 7980 7939
GDP From Construction (EUR Million) 21635.70 19606 19339 20342 21939 20810
GDP From Manufacturing (EUR Million) 75595.10 76668 75756 76664 76653 78427
GDP From Services (EUR Million) 281697.60 279147 282984 282389 285641 288884

Labour Actual Q3 Q4 Q1 Q2 2023
Unemployment Rate (%) 8.10 8.6 8.9 8.7 8.6 8.8
Employed Persons (Thousand ) 22971.15 23550 23600 23650 23650 23900
Unemployed Persons (Thousand ) 2028.35 2250 2210 2210 2210 2200
Employment Rate (%) 59.90 58.8 58.9 58.9 58.9 59.1
Labor Force Participation Rate (%) 65.40 64.9 65.1 65.3 65.3 65.4
Long Term Unemployment Rate (%) 5.50 5.9 5.7 6 5.8 6
Youth Unemployment Rate (%) 23.80 24.2 24 24.3 24.1 24.3
Labour Costs (points) 107.10 115 114 111 109 113
Wages (EUR/Month) 2333.00 2580 2359 2361 2359 2392
Wages in Manufacturing (points) 105.60 106 106 106 107 108
Wage Growth (%) 0.90 1.3 1.4 1.4 1.4 1.6
Population (Million) 59.64 59.1 59.1 59.1 59.1 58.7
Retirement Age Women 67.00 67 67 67 67 67
Retirement Age Men 67.00 67 67 67 67 67
Employment Change (%) 0.30 0.3 0.4 0.4 0.4 0.4

Prices Actual Q3 Q4 Q1 Q2 2023
Inflation Rate (%) 8.00 6.2 4.2 3.5 3 2.2
Inflation Rate Mom (%) 1.20 -0.3 0.5 0.2 0.3 0.5
Consumer Price Index CPI (points) 112.50 111 111 114 116 114
Harmonised Consumer Prices (points) 114.10 112 112 115 118 115
Core Consumer Prices (points) 107.50 105 106 107 109 108
Core Inflation Rate (%) 3.80 1.3 1.4 1.4 1.4 1.7
GDP Deflator (points) 107.00 113 110 111 110 113
Producer Prices (points) 143.30 132 138 152 153 142
Producer Prices Change (%) 34.60 16.3 11.5 6.8 6.8 2.5
Food Inflation (%) 9.10 1.5 1.7 1.7 1.7 1.7
CPI Housing Utilities (points) 133.90 115 121 137 138 124
CPI Transportation (points) 122.30 122 123 123 123 124

Money Actual Q3 Q4 Q1 Q2 2023
Interest Rate (%) 0.00 0.75 1.25 1.5 1.75 1.75
Interbank Rate (%) -0.24 0.51 1.01 1.26 1.51 1.51
Money Supply M2 (EUR Million) 1942416.00 1970000 1990000 1990000 1990000 2070000
Banks Balance Sheet (EUR Million) 4064458.42 4130000 4150000 4150000 4150000 4150000
Loans to Private Sector (EUR Million) 660601.00 676000 681000 681000 681000 696000
Private Debt to GDP (%) 180.00 175 175 175 175 171
Central Bank Balance Sheet (EUR Million) 1593690.80 1615000 1631000 1631000 1631000 1661000

Trade Actual Q3 Q4 Q1 Q2 2023
Balance of Trade (EUR Million) -3666.00 -6600 -3300 -900 -600 5900
Current Account (EUR Million) -2190.00 2600 1870 2980 2950 1510
Current Account to GDP (% of GDP) 3.60 3.2 3.2 3.5 3.5 3.5
Imports (EUR Million) 53811.45 54200 52100 53200 51500 47500
Exports (EUR Million) 50145.10 50900 51200 52600 52100 53400
External Debt (EUR Million) 2477624.00 2445000 2450000 2450000 2450000 2490000
Capital Flows (EUR Million) -2632.90 1980 3020 3020 3020 2840
Gold Reserves (Tonnes) 2451.84 2452 2452 2452 2452 2452
Tourism Revenues (EUR Million) 2734.79 3800 2300 2300 2300 2700
Crude Oil Production (BBL/D/1K) 133.00 88 105 105 105 95
Foreign Direct Investment (EUR Million) 1313.00 2980 510 510 510 750

Government Actual Q3 Q4 Q1 Q2 2023
Government Debt to GDP (% of GDP) 150.80 148 148 147 147 147
Government Budget (% of GDP) -7.20 -5.7 -5.7 -4.5 -4.5 -4.5
Government Budget Value (EUR Billion) -12.84 -25 -23 -23 -23 -20
Government Spending (EUR Million) 80285.00 83331 81900 81053 81409 82000
Government Spending to GDP (% of GDP) 57.30 53 53 53 53 51
Government Revenues (EUR Billion) 51.86 36 96 96 96 101
Government Debt (EUR Million) 2758880.90 2764000 2774000 2774000 2774000 2824000
Fiscal Expenditure (EUR Billion) 64.70 59 119 119 119 121

Taxes Actual Q3 Q4 Q1 Q2 2023
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 22 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 Q3 Q4 Q1 Q2 2023
Business Confidence (points) 110.00 105 102 102 102 103
Manufacturing PMI (points) 50.90 52.5 57 54 53.5 55
Services PMI (points) 51.60 53.4 54 55 53.8 54.8
Industrial Production (%) 4.20 3.2 3.4 3.3 3.5 3.4
Industrial Production Mom (%) 1.60 -1 0.5 0.3 0.4 0.4
Manufacturing Production (%) 3.50 2.4 3.8 3 3.5 3.2
Capacity Utilization (%) 78.60 78.2 78 78 78 79
Car Registrations 127209.00 184000 145000 145000 145000 169000
Mining Production (%) -15.00 2.6 3.2 3.1 2.8 3
Bankruptcies (Companies) 2242.00 3000 3200 3200 3200 2900
Composite PMI (points) 51.30 54.8 55.1 55.1 55.1 55.1

Consumer Actual Q3 Q4 Q1 Q2 2023
Consumer Confidence (points) 98.30 107 106 105 104 105
Retail Sales MoM (%) 0.00 -0.8 0.5 0.4 0.3 0.5
Retail Sales YoY (%) 8.40 3.8 3.2 3.4 3.3 3.2
Consumer Spending (EUR Million) 250361.00 250902 253104 253532 253866 259363
Disposable Personal Income (EUR Million) 305313.00 302244 299860 306534 309587 313585
Personal Savings (%) 11.30 12.2 12 12 12 9.5
Households Debt To GDP (% of GDP) 43.80 47 47 47 47 45
Households Debt To Income (%) 64.36 66 66 66 66 63
Gasoline Prices (USD/Liter) 2.26 2.34 2.43 2.51 2.61 2.61
Bank Lending Rate (%) 1.71 2.46 2.96 3.21 3.46 3.46
Consumer Credit (EUR Million) 111833.23 111694 112036 111922 113398 114496

Housing Actual Q3 Q4 Q1 Q2 2023
Construction Output (%) 16.90 7.4 3.5 5 5 4.5
Housing Index (points) 104.00 104 105 105 105 110
Home Ownership Rate (%) 75.10 67 67 67 67 65
Construction PMI (points) 54.30 54 53.8 53.8 53.8 53.8


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Italy Forecast - was last updated on Tuesday, July 5, 2022.