Markets Actual Q3 Q4 Q1 Q2 2021
Currency 1.16 1.16 1.16 1.15 1.15 1.14
Stock Market (points) 18698.36 18432 17969 17519 17079 16198
Government Bond 10Y (%) 0.89 0.92 0.98 1.03 1.09 1.2
2 Year Note Yield (%) -0.24 0.02 0.05 0.08 0.11 0.18

Overview Actual Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) -12.80 7.5 4.4 2.9 1.9 1.6
GDP Annual Growth Rate (%) -17.70 -10.3 -4 1 16.2 2.9
Unemployment Rate (%) 9.70 11.1 12.5 12.1 11.6 11.1
Inflation Rate (%) -0.50 -0.3 -0.4 -0.1 0.6 1.1
Inflation Rate Mom (%) 0.30 -0.4 0.5 -0.3 0.3 0.5
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) 9694.00 2000 5400 4160 4200 800
Current Account (EUR Million) 9308.00 2290 2210 1900 2400 1910
Current Account to GDP (%) 3.00 3.4 3.4 3.2 3.2 3.2
Government Debt to GDP (%) 134.80 157 157 152 152 152
Government Budget (% of GDP) -1.60 -10.6 -10.6 -5.8 -5.8 -5.8
Business Confidence (points) 92.10 87.5 82 85 84 89
Manufacturing PMI (points) 53.10 52.9 49 51 53 54
Services PMI (points) 47.10 46.5 44 50 52.9 52.9
Consumer Confidence (points) 103.40 100 99 99 100 105
Retail Sales MoM (%) -2.20 -1.4 -0.8 1.1 0.9 0.6
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 2021
GDP Growth Rate (%) -12.80 7.5 4.4 2.9 1.9 1.6
GDP Annual Growth Rate (%) -17.70 -10.3 -4 1 16.2 2.9
GDP (USD Billion) 2001.24 1800 1800 1920 1920 1920
GDP Constant Prices (EUR Million) 354678.70 416342 412982 410771 412137 424958
Gross Fixed Capital Formation (EUR Million) 61746.50 76000 75353 73296 71749 77538
GDP per capita (USD) 35613.80 33800 33800 34600 34600 34600
GDP per capita PPP (USD) 42412.70 39400 39400 40600 40600 40600
GDP From Agriculture (EUR Million) 7801.40 7860 7923 8183 9065 8153
GDP From Construction (EUR Million) 12554.30 16579 16424 16260 14588 16901
GDP From Manufacturing (EUR Million) 55170.30 73499 72263 69475 64108 74358
GDP From Services (EUR Million) 242718.00 276271 274578 275406 282038 282541

Labour Actual Q3 Q4 Q1 Q2 2021
Unemployment Rate (%) 9.70 11.1 12.5 12.1 11.6 11.1
Employed Persons (Thousand ) 22811.20 20900 20500 20800 21200 21700
Unemployed Persons (Thousand ) 2454.20 2620 3200 3100 3000 2890
Employment Rate (%) 57.80 55.5 55.1 55.4 55.9 56.4
Labor Force Participation Rate (%) 64.20 60.6 60.2 60 60.4 60.9
Long Term Unemployment Rate (%) 5.00 5.6 5.6 5.2 4.7 4.4
Youth Unemployment Rate (%) 31.20 31.8 31.8 31.4 30.9 30.6
Labour Costs (points) 120.80 108 109 114 121 110
Wages (EUR/Month) 2502.00 2430 2452 2482 2507 2476
Wages in Manufacturing (points) 103.30 101 101 102 104 102
Wage Growth (%) 0.50 -1.6 -2 -0.8 0.2 1
Population (Million) 60.36 60.26 60.26 60.15 60.15 60.15
Retirement Age Women 67.00 67 67 67.25 67.25 67.25
Retirement Age Men 67.00 67 67 67.25 67.25 67.25
Employment Change (%) -2.50 0.2 -0.6 0.3 0.4 0.5

Prices Actual Q3 Q4 Q1 Q2 2021
Inflation Rate (%) -0.50 -0.3 -0.4 -0.1 0.6 1.1
Inflation Rate Mom (%) 0.30 -0.4 0.5 -0.3 0.3 0.5
Harmonised Consumer Prices (points) 101.80 -0.4 107 107 107 109
Consumer Price Index CPI (points) 103.00 103 102 103 104 104
Core Consumer Prices (points) 103.70 103 102 103 104 104
Core Inflation Rate (%) 0.30 0.1 0.2 0.4 0.7 1.2
GDP Deflator (points) 105.07 103 104 104 106 105
Producer Prices (points) 99.20 100 102 101 99.59 103
Producer Prices Change (%) -4.20 -3 -1.2 0.2 0.6 1.2
Food Inflation (%) 1.10 1.2 1.3 1.1 1.5 1.6
CPI Housing Utilities (points) 98.40 102 103 103 99.39 104
CPI Transportation (points) 105.20 105 105 104 104 106

Money Actual Q3 Q4 Q1 Q2 2021
Interest Rate (%) 0.00 0 0 0 0 0
Interbank Rate (%) -0.48 -0.48 -0.48 -0.48 -0.48 -0.48
Money Supply M2 (EUR Million) 1711778.00 1770000 1820000 1850000 1870000 1920000
Banks Balance Sheet (EUR Million) 3858662.65 4050000 4120000 4180000 4250000 4220000
Loans to Private Sector (EUR Million) 669625.00 672000 677000 685000 682000 685000
Private Debt to GDP (%) 166.20 179 179 177 177 177
Central Bank Balance Sheet (EUR Million) 1280238.20 1279000 1271000 1321000 1364000 1341000

Trade Actual Q3 Q4 Q1 Q2 2021
Balance of Trade (EUR Million) 9694.00 2000 5400 4160 4200 800
Current Account (EUR Million) 9308.00 2290 2210 1900 2400 1910
Current Account to GDP (%) 3.00 3.4 3.4 3.2 3.2 3.2
Imports (EUR Million) 32484.00 32100 25500 26040 27200 33600
Exports (EUR Million) 42177.00 34100 30900 30200 31400 34400
External Debt (EUR Million) 2240148.00 2320000 2370000 2360000 2380000 2410000
Capital Flows (EUR Million) 2319.00 -1640 -3600 1980 2420 2980
Gold Reserves (Tonnes) 2451.80 2452 2452 2452 2452 2452
Tourism Revenues (EUR Million) 2381.00 1600 1200 1510 2720 1900
Crude Oil Production (BBL/D/1K) 69.00 70 70 70 70 70
Foreign Direct Investment (EUR Million) 50.00 -4000 -2470 -2470 1500 980

Government Actual Q3 Q4 Q1 Q2 2021
Government Debt to GDP (%) 134.80 157 157 152 152 152
Government Budget (% of GDP) -1.60 -10.6 -10.6 -5.8 -5.8 -5.8
Government Budget Value (EUR Billion) -20.32 -19 -21 -61 -4 -15
Government Spending (EUR Million) 77751.40 85200 89500 89400 89200 89000
Government Spending to GDP (%) 48.70 59 59 52 52 52
Government Revenues (EUR Billion) 51.86 23 84 27 36 89
Government Debt (EUR Million) 2560474.50 2544000 2594000 2624000 2621000 2634000
Fiscal Expenditure (EUR Billion) 72.18 42 105 88 40 104

Taxes Actual Q3 Q4 Q1 Q2 2021
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 2021
Business Confidence (points) 92.10 87.5 82 85 84 89
Manufacturing PMI (points) 53.10 52.9 49 51 53 54
Services PMI (points) 47.10 46.5 44 50 52.9 52.9
Industrial Production (%) -8.00 -12 -6 15.1 25 4.6
Industrial Production Mom (%) 7.40 -2.3 1 0.5 0.6 0.6
Manufacturing Production (%) -14.70 -14 -8 16 27 5
Capacity Utilization (%) 63.80 66 67 65 69 72
New Orders (points) 109.80 85 84 89 91 98
Factory Orders (%) 3.70 -1.1 -0.8 1 0.9 0.6
Zew Economic Sentiment Index 52.40 52 2 1 12 10
Car Registrations 88801.00 91000 105000 99000 101000 132000
Mining Production (%) 1.50 -13 -4.8 16 20 4.5
Bankruptcies (Companies) 3115.00 3600 4000 3800 3700 3600
Composite Pmi (points) 49.50 51 45 50.4 53.4 53.4

Consumer Actual Q3 Q4 Q1 Q2 2021
Consumer Confidence (points) 103.40 100 99 99 100 105
Retail Sales MoM (%) -2.20 -1.4 -0.8 1.1 0.9 0.6
Retail Sales YoY (%) -7.20 -3.6 -2.8 4.5 10.5 5.6
Consumer Spending (EUR Million) 216837.80 253528 251506 247499 251966 258800
Disposable Personal Income (EUR Million) 293805.00 289574 287402 296743 341401 295737
Personal Savings (%) 12.50 16.2 12.8 13 12.5 11.9
Households Debt To GDP (% of GDP) 41.60 51 51 49 49 49
Households Debt To Income (%) 60.95 67 67 65 65 65
Bank Lending Rate (%) 1.71 1.71 1.71 1.71 1.71 1.71
Consumer Credit (EUR Million) 109069.61 105210 106601 111580 126174 109692
Gasoline Prices (USD/Liter) 1.83 1.74 1.65 1.57 1.49 1.42

Housing Actual Q3 Q4 Q1 Q2 2021
Construction Output (%) -1.10 -12 -6 20.2 37.6 5.6
Housing Index (points) 99.40 94 95 97 99 102
Home Ownership Rate (%) 72.40 71 71 70 70 70
Construction Pmi (points) 50.60 51 49 51 54 52


This page has economic forecasts for Italy including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Italy economy.