Italy's economy advanced 0.1 percent on quarter in the second quarter of 2019, slightly below a preliminary reading and market expectations of 0.2 percent, final estimates showed. It follows a 0.1 percent contraction in the previous period, emerging from its third recession in a decade. Industry and agriculture contributed to the increase in activity. Year-on-year, the GDP shrank 0.1 percent, after being unchanged in the prior quarter and missing market consensus of a 0.1 percent growth. GDP Growth Rate in Italy averaged 0.59 percent from 1960 until 2019, reaching an all time high of 6 percent in the first quarter of 1970 and a record low of -2.70 percent in the first quarter of 2009.

GDP Growth Rate in Italy is expected to be 0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Italy to stand at 0.30 in 12 months time. In the long-term, the Italy GDP Growth Rate is projected to trend around 0.60 percent in 2020, according to our econometric models.

Italy GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-01-31 10:00 AM GDP Growth Rate QoQ Adv Q4 -0.2% -0.1% -0.1% 0.1%
2019-03-05 09:00 AM GDP Growth Rate QoQ Final Q4 -0.1% -0.1% -0.2% -0.2%
2019-04-30 10:00 AM GDP Growth Rate QoQ Adv Q1 0.2% -0.1% 0.1% -0.1%
2019-05-31 08:00 AM GDP Growth Rate QoQ Final Q1 0.1% -0.1% 0.2% 0.2%
2019-07-31 10:00 AM GDP Growth Rate QoQ Adv Q2 0.1% 0.2%
2019-08-30 10:00 AM GDP Growth Rate QoQ Final Q2 0.2%
2019-10-31 11:00 AM GDP Growth Rate QoQ Adv Q3 0.2%



Italy Q1 GDP Growth Revised Down to 0.1%

Italy's economy advanced 0.1 percent on quarter in the second quarter of 2019, slightly below a preliminary reading and market expectations of 0.2 percent, final estimates showed. It follows a 0.1 percent contraction in the previous period, emerging from its third recession in a decade. Industry and agriculture contributed to the increase in activity.

From the expenditure side, the largest contribution to the GDP growth came from net exports (0.5 percent), consumer spending (0.1 percentage points) and fixed investment (0.1 percentage points). On the other hand, negative contributions came from inventory changes, which subtracted 0.6 percentage points to growth while government spending was neutral.

Exports rose 0.2 percent in the first quarter of the year (vs 1.4 percent in Q4) while imports fell 1.5 percent (vs 1.3 percent in Q4). Additionally, fixed investment grew 0.6 percent, the same as in the last quarter of 2018, mainly driven by non-residential construction (2.8 percent vs 0.3 percent) and residential (2.5 percent vs 0.4 percent). Also, government expenditure increased 0.2 percent, rebounding from a 0.2 percent contraction in the prior period. Meanwhile, household consumption went up 0.1 percent, easing from a  0.1 percent expansion in the previous quarter.

From the production side, the industrial sector grew 0.9 percent, after shrinking 0.3 percent in the fourth quarter, boosted by construction (2.4 percent vs a flat reading) and manufacturing (0.5 percent vs -0.4 percent). Agriculture output rose 2.9 percent, after contracting 2.5 percent in the prior period. In contrast, the services activity shrank 0.2 percent, after expanding 0.1 percent in the previous quarter, mainly due to professional and support activities (-1.4 percent vs 0.5 percent); trade, transport and accommodation (-0.3 percent vs 0.1 percent); and inancial and insurance activities (-0.8 percent vs -0.2 percent). On the other hand, output rose further for public administration, defense, education, health (0.3 percent vs a flat reading); and other service activities (0.6 percent vs 0.1 percent); and rebounded for information and communication services (0.5 percent vs -1.1 percent). Also, real estate activities rose 0.2 percent, the same as in Q4). 

Year-on-year, the GDP shrank 0.1 percent, after being unchanged in the prior quarter and missing market consensus of a 0.1 percent growth.



Istat | Stefanie Moya | stefanie.moya@tradingeconomics.com
5/31/2019 8:58:33 AM



Italy GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.10 -0.10 6.00 -2.70 percent [+]
GDP Annual Growth Rate -0.10 0.00 10.30 -7.20 percent [+]
GDP 2073.90 1946.57 2390.73 40.39 USD Billion [+]
GDP Constant Prices 403596.00 403103.80 425552.00 294839.30 EUR Million [+]
Gross Fixed Capital Formation 74810.30 74374.10 93562.20 52865.10 EUR Million [+]
GDP per capita 35391.70 35029.40 38236.80 10867.70 USD [+]
GDP per capita PPP 35739.00 35373.20 38612.00 31141.90 USD [+]
GDP From Agriculture 7159.00 6958.00 7937.20 6494.70 EUR Million [+]
GDP From Construction 16856.00 16460.00 24477.10 15831.00 EUR Million [+]
GDP From Manufacturing 70681.00 70325.00 78895.40 61823.30 EUR Million [+]
GDP From Services 271203.00 271622.00 272080.50 224998.40 EUR Million [+]


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. This page provides - Italy GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Italy GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.10 -0.10 6.00 -2.70 1960 - 2019 percent Quarterly
SA




Country Last Previous
United States 3.10 Mar/19
China 1.60 Jun/19
India 1.60 Dec/18
Turkey 1.30 Mar/19
Saudi Arabia 1.07 Dec/18
Spain 0.70 Mar/19
Japan 0.60 Mar/19
Switzerland 0.60 Mar/19
Netherlands 0.50 Mar/19
United Kingdom 0.50 Mar/19
Australia 0.40 Mar/19
Euro Area 0.40 Mar/19
Germany 0.40 Mar/19
France 0.30 Mar/19
Canada 0.10 Mar/19
Italy 0.10 Mar/19
Argentina -0.20 Mar/19
Brazil -0.20 Mar/19
Mexico -0.20 Mar/19
Russia -0.40 Mar/19
South Korea -0.40 Mar/19
Indonesia -0.52 Mar/19
South Africa -3.20 Mar/19
Singapore -3.40 Jun/19


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