Markets Actual Q2 Q3 Q4 Q1 2023
Currency 1.05 1.04 1.03 1.02 1.01 0.99
Stock Market (points) 21881.96 21401 20578 19786 19024 17588
Government Bond 10Y (%) 3.66 3.78 4.02 4.28 4.55 5.15

Overview Actual Q2 Q3 Q4 Q1 2023
GDP Growth Rate (%) 0.10 -0.1 0.2 0.5 0.4 0.4
GDP Annual Growth Rate (%) 6.20 2.6 0.6 0.4 1.4 2.3
Unemployment Rate (%) 8.40 8.8 8.6 8.9 8.7 8.8
Inflation Rate (%) 6.80 7.8 6.2 4.2 3.5 2.2
Inflation Rate Mom (%) 0.80 1 -0.3 0.5 0.2 0.5
Interest Rate (%) 0.00 0 0.75 1.25 1.5 1.75
Balance of Trade (EUR Million) -3666.00 -6600 -3300 -900 -600 5900
Current Account (EUR Million) -2190.00 -1860 2600 1870 2980 1510
Current Account to GDP (% of GDP) 3.60 3.2 3.2 3.2 3.5 3.5
Government Debt to GDP (% of GDP) 150.80 148 148 148 147 147
Government Budget (% of GDP) -7.20 -5.7 -5.7 -5.7 -4.5 -4.5
Business Confidence (points) 110.00 109 105 102 102 103
Manufacturing PMI (points) 51.90 53.1 54.5 57 54 55
Services PMI (points) 53.70 53.1 53.4 54 55 54.8
Consumer Confidence (points) 98.30 102 107 106 105 105
Retail Sales MoM (%) 0.00 0.7 -0.8 0.5 0.4 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 Q2 Q3 Q4 Q1 2023
GDP Growth Rate (%) 0.10 -0.1 0.2 0.5 0.4 0.4
GDP Annual Growth Rate (%) 6.20 2.6 0.6 0.4 1.4 2.3
GDP (USD Billion) 1886.45 2000 2000 2000 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 3.1 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 Q2 Q3 Q4 Q1 2023
Unemployment Rate (%) 8.40 8.8 8.6 8.9 8.7 8.8
Employed Persons (Thousand ) 23021.12 23500 23550 23600 23650 23900
Unemployed Persons (Thousand ) 2094.15 2280 2250 2210 2210 2200
Employment Rate (%) 59.90 58.7 58.8 58.9 58.9 59.1
Labor Force Participation Rate (%) 65.40 64.8 64.9 65.1 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 1.1 1.3 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 0.4 0.3 0.4 0.4 0.4

Prices Actual Q2 Q3 Q4 Q1 2023
Inflation Rate (%) 6.80 7.8 6.2 4.2 3.5 2.2
Inflation Rate Mom (%) 0.80 1 -0.3 0.5 0.2 0.5
Consumer Price Index CPI (points) 111.30 112 111 111 114 114
Harmonised Consumer Prices (points) 112.70 113 112 112 115 115
Core Consumer Prices (points) 106.80 105 105 106 107 108
Core Inflation Rate (%) 3.30 1.1 1.3 1.4 1.4 1.7
GDP Deflator (points) 107.00 114 113 110 111 113
Producer Prices (points) 142.50 137 132 138 152 142
Producer Prices Change (%) 35.30 26.8 16.3 11.5 6.8 2.5
Food Inflation (%) 7.50 1.4 1.5 1.7 1.7 1.7
CPI Housing Utilities (points) 132.20 113 115 121 137 124
CPI Transportation (points) 118.00 119 119 119 120 120

Money Actual Q2 Q3 Q4 Q1 2023
Interest Rate (%) 0.00 0 0.75 1.25 1.5 1.75
Interbank Rate (%) -0.39 -0.39 0.36 0.86 1.11 1.11
Money Supply M2 (EUR Million) 1942416.00 1950000 1970000 1990000 1990000 2070000
Banks Balance Sheet (EUR Million) 4064458.42 4110000 4130000 4150000 4150000 4150000
Loans to Private Sector (EUR Million) 660601.00 673200 676000 681000 681000 696000
Private Debt to GDP (%) 180.00 175 175 175 175 171
Central Bank Balance Sheet (EUR Million) 1593690.80 1604000 1615000 1631000 1631000 1661000

Trade Actual Q2 Q3 Q4 Q1 2023
Balance of Trade (EUR Million) -3666.00 -6600 -3300 -900 -600 5900
Current Account (EUR Million) -2190.00 -1860 2600 1870 2980 1510
Current Account to GDP (% of GDP) 3.60 3.2 3.2 3.2 3.5 3.5
Imports (EUR Million) 53811.45 56100 54200 52100 53200 47500
Exports (EUR Million) 50145.10 49500 50900 51200 52600 53400
External Debt (EUR Million) 2443292.00 2440000 2445000 2450000 2450000 2490000
Capital Flows (EUR Million) -2632.90 3040 1980 3020 3020 2840
Gold Reserves (Tonnes) 2451.84 2452 2452 2452 2452 2452
Tourism Revenues (EUR Million) 2734.79 3640 3800 2300 2300 2700
Crude Oil Production (BBL/D/1K) 133.00 100 88 105 105 95
Foreign Direct Investment (EUR Million) 1313.00 2690 2980 510 510 750

Government Actual Q2 Q3 Q4 Q1 2023
Government Debt to GDP (% of GDP) 150.80 148 148 148 147 147
Government Budget (% of GDP) -7.20 -5.7 -5.7 -5.7 -4.5 -4.5
Government Budget Value (EUR Billion) -12.84 -25 -23 -23 -23 -20
Government Spending (EUR Million) 80285.00 83331 81874 81053 81409 82918
Government Spending to GDP (% of GDP) 57.30 53 53 53 53 51
Government Revenues (EUR Billion) 51.86 34 36 96 96 101
Government Debt (EUR Million) 2758880.90 2755000 2764000 2774000 2774000 2824000
Fiscal Expenditure (EUR Billion) 64.70 59 59 119 119 121

Taxes Actual Q2 Q3 Q4 Q1 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 Q2 Q3 Q4 Q1 2023
Business Confidence (points) 110.00 109 105 102 102 103
Manufacturing PMI (points) 51.90 53.1 54.5 57 54 55
Services PMI (points) 53.70 53.1 53.4 54 55 54.8
Industrial Production (%) 4.20 3.8 3.2 3.4 3.3 3.4
Industrial Production Mom (%) 1.60 0.8 -1 0.5 0.3 0.4
Manufacturing Production (%) 3.50 2.2 2.4 3.8 3 3.2
Capacity Utilization (%) 78.60 78 78.2 78 78 79
Car Registrations 121299.00 156000 184000 145000 145000 169000
Mining Production (%) -15.00 1.1 2.6 3.2 3.1 3
Bankruptcies (Companies) 2242.00 3400 3000 3200 3200 2900
Composite PMI (points) 52.40 51.4 54.8 55.1 55.1 55.1

Consumer Actual Q2 Q3 Q4 Q1 2023
Consumer Confidence (points) 98.30 102 107 106 105 105
Retail Sales MoM (%) 0.00 0.7 -0.8 0.5 0.4 0.5
Retail Sales YoY (%) 8.40 4.6 3.8 3.2 3.4 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 12.4 12.2 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) 2.14 2.22 2.3 2.38 2.47 2.47
Bank Lending Rate (%) 1.71 1.71 2.46 2.96 3.21 3.21
Consumer Credit (EUR Million) 111833.23 111694 112036 111922 113398 114496

Housing Actual Q2 Q3 Q4 Q1 2023
Construction Output (%) 16.90 11.1 7.4 3.5 5 4.5
Housing Index (points) 104.00 103 104 105 105 110
Home Ownership Rate (%) 75.10 67 67 67 67 65
Construction PMI (points) 54.30 53.2 54 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, June 28, 2022.