Italy’s gross domestic product grew by 2.6 percent quarter-on-quarter in the three months to September of 2021, following a 2.7 percent rise in the previous period and easily beating market expectations of a 2 percent expansion, a preliminary estimate showed. It is the third consecutive quarter of growth, as the Italian economy saw a strong recovery in the service sector as higher vaccination rates curbed restrictions on businesses and internal movement. Year-on-year, the GDP advanced 3.8 percent, compared to the 17 percent growth rate from the previous quarter as low base effects start to fade. source: National Institute of Statistics (ISTAT)

GDP Growth Rate in Italy averaged 0.57 percent from 1960 until 2021, reaching an all time high of 16 percent in the third quarter of 2020 and a record low of -13.10 percent in the second quarter of 2020. This page provides - Italy GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Italy GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2021.

GDP Growth Rate in Italy is expected to be 1.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Italy GDP Growth Rate is projected to trend around 0.60 percent in 2022 and 0.40 percent in 2023, according to our econometric models.

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Italy GDP Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-08-31 08:00 AM QoQ Final Q2 2.7% 0.2% 2.7% 2.7%
2021-10-29 08:00 AM QoQ Adv Q3 2.6% 2.7% 2% 2.2%
2021-11-30 09:00 AM QoQ Final Q3 2.7% 2.6% 2.6%


Related Last Previous Unit Reference
GDP Growth Rate 2.60 2.70 percent Sep/21
GDP Annual Growth Rate 3.80 17.00 percent Sep/21
GDP Constant Prices 425022.20 414230.40 EUR Million Sep/21
Gross Fixed Capital Formation 81563.40 79512.70 EUR Million Jun/21
GDP From Services 272197.40 264341.00 EUR Million Jun/21
GDP From Manufacturing 74337.90 73578.30 EUR Million Jun/21
GDP From Construction 19067.60 18476.60 EUR Million Jun/21
GDP From Agriculture 7891.60 7894.90 EUR Million Jun/21

News Stream
Italy Q3 GDP Growth Beats Forecasts
Italy’s gross domestic product grew by 2.6 percent quarter-on-quarter in the three months to September of 2021, following a 2.7 percent rise in the previous period and easily beating market expectations of a 2 percent expansion, a preliminary estimate showed. It is the third consecutive quarter of growth, as the Italian economy saw a strong recovery in the service and industry sectors, as higher vaccination rates curbed restrictions on businesses and internal movement. Year-on-year, the GDP advanced 3.8 percent, compared to the 17 percent growth rate from the previous quarter as low base effects start to fade.
2021-10-29
Italy GDP Growth Confirmed at 2.7%
The Italian economy expanded 2.7% on quarter in the three months to June of 2021, accelerating from a 0.2% growth in the previous period, and matching preliminary estimates. Consumption rose 3.4% and gross fixed capital formation 2.4%. Exports were up 2.3% and imports 3.2%, with net foreign demand adding 0.3 percentage points to growth. On the other hand, inventories subtracted 0.8 percentage points. Year-on-year, the economy advanced 17.3%, also in line with initial figures. Considering the first 6 months of the year, the GDP grew 4.7%. Mario Draghi's government began easing restrictions in April and almost all curbs on business and internal movement have been removed. The Bank of Italy expects the economy to grow 5.1% in 2021 and sees it returning to pre-pandemic level in the second half of 2022.
2021-08-31
Italy Q2 GDP Growth Beats Forecasts
Italy's gross domestic product grew by 2.7 percent on quarter in the three months to June of 2021, following an upwardly revised 0.2 percent advance in the previous period and easily beating market expectations of a 1.3 percent expansion, a preliminary estimate showed. Mario Draghi's government began easing restrictions in April and almost all curbs on business and internal movement have now been removed. Industry and services had both contributed positively to growth, while agriculture had been broadly stable. Year-on-year, the GDP advanced by a record 17.3 percent, rebounding from a downwardly revised 0.7 percent contraction in Q1 and also beating forecast of a 15.6 percent rise. Looking ahead, government officials have said growth of around 5% this year now looks likely provided there is no worsening of the virus situation.
2021-07-30

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.