Markets Actual Q3 Q4 Q1 Q2 2022
Currency 1.18 1.17 1.17 1.16 1.16 1.14
Stock Market (points) 25107.45 24514 23761 23032 22324 20974
Government Bond 10Y (%) 0.63 0.67 0.71 0.76 0.81 0.92
2 Year Note Yield (%) -0.44 0.04 0.09 0.15 0.21 0.25

Overview Actual Q3 Q4 Q1 Q2 2022
GDP Growth Rate (%) 0.10 3.2 1.2 0.7 0.8 0.6
GDP Annual Growth Rate (%) -0.80 2.5 5 1.5 0.9 0.8
Unemployment Rate (%) 10.50 9.8 9.7 9.9 9.5 9.6
Inflation Rate (%) 1.30 1.6 1.7 1.4 1.1 1.4
Inflation Rate Mom (%) 0.10 0.4 0.2 0.3 0.4 0.5
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) 5642.00 7100 3900 4900 5400 9100
Current Account (EUR Million) 3882.00 1980 1910 1680 2650 1750
Current Account to GDP (% of GDP) 3.60 3 3 3.2 3.2 3.2
Government Debt to GDP (% of GDP) 155.80 160 160 157 157 157
Government Budget (% of GDP) -9.50 -12 -12 -6 -6 -6
Business Confidence (points) 114.80 115 109 107 105 102
Manufacturing PMI (points) 62.20 56.4 54 54.5 55.1 55
Services PMI (points) 56.70 56.8 54.9 53.6 54 55
Consumer Confidence (points) 115.10 116 114 108 110 105
Retail Sales MoM (%) 0.20 -1 0.6 0.9 0.7 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 2022
GDP Growth Rate (%) 0.10 3.2 1.2 0.7 0.8 0.6
GDP Annual Growth Rate (%) -0.80 2.5 5 1.5 0.9 0.8
GDP (USD Billion) 1886.45 1920 1920 2000 2000 2000
GDP Constant Prices (EUR Million) 402919.60 419805 422486 408963 406546 425866
Gross Fixed Capital Formation (EUR Million) 79898.60 78684 80924 81097 80618 81572
GDP per capita (USD) 32933.98 34600 34600 35200 35200 35200
GDP per capita PPP (USD) 38992.15 40600 40600 41200 41200 41200
GDP From Agriculture (EUR Million) 7889.10 7983 7971 8007 7960 8035
GDP From Construction (EUR Million) 18229.90 18073 18227 18503 18394 18373
GDP From Manufacturing (EUR Million) 73162.60 74242 76042 74260 73821 76650
GDP From Services (EUR Million) 264703.40 278636 279120 268674 267086 281353

Labour Actual Q3 Q4 Q1 Q2 2022
Unemployment Rate (%) 10.50 9.8 9.7 9.9 9.5 9.6
Employed Persons (Thousand ) 22427.04 22340 22370 22400 22500 22600
Unemployed Persons (Thousand ) 2620.30 2710 2690 2610 2580 2510
Employment Rate (%) 57.20 57.1 57.4 58 58.2 58.4
Labor Force Participation Rate (%) 63.80 63.6 64 64.2 64.4 64.8
Long Term Unemployment Rate (%) 5.50 4.8 4.7 4.9 4.5 4.5
Youth Unemployment Rate (%) 31.70 33.6 25.1 32.7 32.9 33
Labour Costs (points) 113.10 120 115 110 114 111
Wages (EUR/Month) 2333.00 2525 2359 2361 2359 2392
Wages in Manufacturing (points) 103.90 104 121 105 105 106
Wage Growth (%) 0.50 0.9 1.1 1.2 1.1 1.4
Population (Million) 59.64 59.4 59.4 59.1 59.1 59.1
Retirement Age Women 67.00 67 67 67 67 67
Retirement Age Men 67.00 67 67 67 67 67
Employment Change (%) -0.90 0.3 0.5 0.6 0.4 0.4

Prices Actual Q3 Q4 Q1 Q2 2022
Inflation Rate (%) 1.30 1.6 1.7 1.4 1.1 1.4
Inflation Rate Mom (%) 0.10 0.4 0.2 0.3 0.4 0.5
Harmonised Consumer Prices (points) 105.20 1.2 109 109 109 109
Consumer Price Index CPI (points) 104.20 104 104 105 105 106
Core Consumer Prices (points) 103.60 104 105 104 105 105
Core Inflation Rate (%) 0.30 0.7 1.1 1.2 1.1 1.4
GDP Deflator (points) 105.55 106 108 107 107 109
Producer Prices (points) 106.40 104 103 106 109 105
Producer Prices Change (%) 8.00 3.6 2.2 2.4 2.1 1.9
Food Inflation (%) -0.60 0.8 1.2 1.5 1.4 1.7
CPI Housing Utilities (points) 104.60 99.87 103 105 106 105
CPI Transportation (points) 107.50 104 104 108 109 106

Money Actual Q3 Q4 Q1 Q2 2022
Interest Rate (%) 0.00 0 0 0 0 0
Interbank Rate (%) -0.54 -0.54 -0.54 -0.54 -0.54 -0.54
Money Supply M2 (EUR Million) 1846313.00 1910000 1890000 1940000 1950000 1990000
Banks Balance Sheet (EUR Million) 3933164.44 3970000 4030000 4080000 4110000 4150000
Loans to Private Sector (EUR Million) 667731.00 679000 685000 684000 683200 691000
Private Debt to GDP (%) 161.60 177 177 175 175 175
Central Bank Balance Sheet (EUR Million) 1504580.40 1521000 1541000 1551000 1564000 1591000

Trade Actual Q3 Q4 Q1 Q2 2022
Balance of Trade (EUR Million) 5642.00 7100 3900 4900 5400 9100
Current Account (EUR Million) 3882.00 1980 1910 1680 2650 1750
Current Account to GDP (% of GDP) 3.60 3 3 3.2 3.2 3.2
Imports (EUR Million) 37942.53 37400 34600 42900 36100 37100
Exports (EUR Million) 43584.97 44500 42400 47800 41500 46200
External Debt (EUR Million) 2345211.00 2400000 2410000 2420000 2440000 2450000
Capital Flows (EUR Million) 3747.10 2500 2980 1850 3040 3020
Gold Reserves (Tonnes) 2451.84 2452 2452 2452 2452 2452
Tourism Revenues (EUR Million) 662.39 3200 1900 1720 3640 2300
Crude Oil Production (BBL/D/1K) 117.00 100 100 100 100 100
Foreign Direct Investment (EUR Million) 887.00 3650 980 2420 2690 510

Government Actual Q3 Q4 Q1 Q2 2022
Government Debt to GDP (% of GDP) 155.80 160 160 157 157 157
Government Budget (% of GDP) -9.50 -12 -12 -6 -6 -6
Government Budget Value (EUR Billion) -25.64 -29 -41 -47 -25 -23
Government Spending (EUR Million) 81423.70 84700 85000 84200 83700 81900
Government Spending to GDP (% of GDP) 57.30 59 59 53 53 53
Government Revenues (EUR Billion) 39.70 27 89 37 34 96
Government Debt (EUR Million) 2686811.20 2728000 2734000 2745000 2755000 2774000
Fiscal Expenditure (EUR Billion) 65.34 56 130 84 59 119

Taxes Actual Q3 Q4 Q1 Q2 2022
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 2022
Business Confidence (points) 114.80 115 109 107 105 102
Manufacturing PMI (points) 62.20 56.4 54 54.5 55.1 55
Services PMI (points) 56.70 56.8 54.9 53.6 54 55
Industrial Production (%) 21.10 11 4.6 3.2 3.8 3.4
Industrial Production Mom (%) -1.50 -1.2 0.6 0.8 0.8 0.5
Manufacturing Production (%) 90.70 12 5 3.4 4.2 3.8
Capacity Utilization (%) 75.30 76 76 77 76 78
Car Registrations 149438.00 161000 122000 175200 156000 145000
Mining Production (%) 19.90 10 4.5 3.4 4.1 3.2
Bankruptcies (Companies) 2902.00 3200 3600 3200 3400 3200
Composite PMI (points) 58.30 58 54.5 54.1 54.6 55.1

Consumer Actual Q3 Q4 Q1 Q2 2022
Consumer Confidence (points) 115.10 116 114 108 110 105
Retail Sales MoM (%) 0.20 -1 0.6 0.9 0.7 0.5
Retail Sales YoY (%) 13.30 3 5.6 3.8 4.6 3.2
Consumer Spending (EUR Million) 232598.20 248059 247234 236087 234692 249211
Disposable Personal Income (EUR Million) 293303.00 301833 303735 297703 295943 306164
Personal Savings (%) 17.10 13 12.8 12.6 12.4 12
Households Debt To GDP (% of GDP) 44.90 49 49 47 47 47
Households Debt To Income (%) 61.69 70 70 66 66 66
Bank Lending Rate (%) 1.77 1.77 1.77 1.77 1.77 1.77
Consumer Credit (EUR Million) 108294.49 111911 115558 111708 109269 116483
Gasoline Prices (USD/Liter) 2.07 1.97 1.87 1.78 1.69 1.6

Housing Actual Q3 Q4 Q1 Q2 2022
Construction Output (%) 32.60 10.5 5.6 3.2 4.5 2.7
Housing Index (points) 101.10 100 102 101 103 105
Home Ownership Rate (%) 72.40 70 70 67 67 67
Construction PMI (points) 57.90 54.9 52 52.7 53.2 53.8


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.