Markets Actual Q4 Q1 Q2 Q3 2022
Currency 1.16 1.16 1.15 1.15 1.14 1.13
Stock Market (points) 26381.80 25717 24990 24283 23595 22278
Government Bond 10Y (%) 0.91 0.93 1 1.07 1.14 1.3

Overview Actual Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 2.70 1.4 1 0.8 0.7 0.6
GDP Annual Growth Rate (%) 17.30 4.5 5.6 6 4.2 3.2
Unemployment Rate (%) 9.30 9.2 9.4 9.3 9.2 9.4
Inflation Rate (%) 2.50 1.7 1.4 1.2 1.3 1.4
Inflation Rate Mom (%) -0.20 0.2 0.3 0.4 -0.3 0.5
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) 1316.00 7800 4900 5400 7700 9100
Current Account (EUR Million) 7947.00 4920 2230 2860 4700 2870
Current Account to GDP (% of GDP) 3.60 3 3.2 3.2 3.2 3.2
Government Debt to GDP (% of GDP) 155.80 160 157 157 157 157
Government Budget (% of GDP) -9.50 -12 -6 -6 -6 -6
Business Confidence (points) 113.00 109 111 108 105 102
Manufacturing PMI (points) 59.70 56.4 54.5 55.1 55.5 55
Services PMI (points) 55.50 54.9 53.6 54 54.4 55
Consumer Confidence (points) 119.60 114 108 110 107 105
Retail Sales MoM (%) 0.40 0.6 0.9 0.7 -0.8 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 Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 2.70 1.4 1 0.8 0.7 0.6
GDP Annual Growth Rate (%) 17.30 4.5 5.6 6 4.2 3.2
GDP (USD Billion) 1886.45 1920 2000 2000 2000 2000
GDP Constant Prices (EUR Million) 414142.60 412553 420529 425921 438991 433986
Gross Fixed Capital Formation (EUR Million) 81978.00 75996 80591 84507 86897 83169
GDP per capita (USD) 32901.88 34600 35200 35200 35200 35200
GDP per capita PPP (USD) 38992.15 40600 41200 41200 41200 41200
GDP From Agriculture (EUR Million) 7898.30 7165 7942 8344 8372 8196
GDP From Construction (EUR Million) 18932.30 16782 18153 19373 20068 18734
GDP From Manufacturing (EUR Million) 74300.90 71919 75820 77555 78759 78246
GDP From Services (EUR Million) 272471.90 278043 277683 279528 288820 286569

Labour Actual Q4 Q1 Q2 Q3 2022
Unemployment Rate (%) 9.30 9.2 9.4 9.3 9.2 9.4
Employed Persons (Thousand ) 22783.21 23270 23400 23500 23550 23600
Unemployed Persons (Thousand ) 2327.02 2310 2290 2280 2250 2210
Employment Rate (%) 58.10 58.4 58.6 58.7 58.8 58.9
Labor Force Participation Rate (%) 64.50 64.8 64.7 64.8 64.9 65.1
Long Term Unemployment Rate (%) 5.50 4 5.4 5.6 5.5 5.7
Youth Unemployment Rate (%) 27.70 25.1 27.6 27.8 27.7 27.9
Labour Costs (points) 113.80 115 110 114 115 111
Wages (EUR/Month) 2333.00 2580 2359 2361 2359 2392
Wages in Manufacturing (points) 104.50 105 105 106 106 106
Wage Growth (%) 0.70 1.1 1.2 1.1 1.3 1.4
Population (Million) 59.64 59.4 59.1 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 0.5 0.6 0.4 0.3 0.4

Prices Actual Q4 Q1 Q2 Q3 2022
Inflation Rate (%) 2.50 1.7 1.4 1.2 1.3 1.4
Inflation Rate Mom (%) -0.20 0.2 0.3 0.4 -0.3 0.5
Harmonised Consumer Prices (points) 105.70 109 109 109 109 109
Consumer Price Index CPI (points) 104.90 104 105 105 106 106
Core Consumer Prices (points) 104.00 105 104 105 105 105
Core Inflation Rate (%) 1.10 1.1 1.2 1.1 1.3 1.4
GDP Deflator (points) 106.72 107 107 108 108 109
Producer Prices (points) 111.60 112 108 111 111 110
Producer Prices Change (%) 11.60 7.2 6.4 3.2 2.5 1.9
Food Inflation (%) 1.10 1.2 1.5 1.4 1.5 1.7
CPI Housing Utilities (points) 107.90 103 105 106 109 105
CPI Transportation (points) 109.20 109 110 110 110 110

Money Actual Q4 Q1 Q2 Q3 2022
Interest Rate (%) 0.00 0 0 0 0 0
Interbank Rate (%) -0.55 -0.55 -0.55 -0.55 -0.55 -0.55
Money Supply M2 (EUR Million) 1869251.00 1890000 1940000 1950000 1970000 1990000
Banks Balance Sheet (EUR Million) 3960247.75 4030000 4080000 4110000 4130000 4150000
Loans to Private Sector (EUR Million) 657896.00 675000 674000 673200 676000 681000
Private Debt to GDP (%) 161.60 177 175 175 175 175
Central Bank Balance Sheet (EUR Million) 1544946.80 1581000 1591000 1604000 1615000 1631000

Trade Actual Q4 Q1 Q2 Q3 2022
Balance of Trade (EUR Million) 1316.00 7800 4900 5400 7700 9100
Current Account (EUR Million) 7947.00 4920 2230 2860 4700 2870
Current Account to GDP (% of GDP) 3.60 3 3.2 3.2 3.2 3.2
Imports (EUR Million) 31333.90 34600 42900 36100 41200 37100
Exports (EUR Million) 32649.86 42400 47800 41500 48900 46200
External Debt (EUR Million) 2362795.00 2410000 2420000 2440000 2445000 2450000
Capital Flows (EUR Million) -904.90 2980 1850 3040 1980 3020
Gold Reserves (Tonnes) 2451.84 2452 2452 2452 2452 2452
Tourism Revenues (EUR Million) 2827.52 1900 1720 3640 3800 2300
Crude Oil Production (BBL/D/1K) 57.00 100 100 100 100 100
Foreign Direct Investment (EUR Million) 7696.00 980 2420 2690 2980 510

Government Actual Q4 Q1 Q2 Q3 2022
Government Debt to GDP (% of GDP) 155.80 160 157 157 157 157
Government Budget (% of GDP) -9.50 -12 -6 -6 -6 -6
Government Budget Value (EUR Billion) 17.45 -41 -47 -25 -23 -23
Government Spending (EUR Million) 80422.10 85000 84200 83700 85247 81900
Government Spending to GDP (% of GDP) 57.30 59 53 53 53 53
Government Revenues (EUR Billion) 46.50 89 37 34 36 96
Government Debt (EUR Million) 2734425.60 2734000 2745000 2755000 2764000 2774000
Fiscal Expenditure (EUR Billion) 29.06 130 84 59 59 119

Taxes Actual Q4 Q1 Q2 Q3 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 Q4 Q1 Q2 Q3 2022
Business Confidence (points) 113.00 109 111 108 105 102
Manufacturing PMI (points) 59.70 56.4 54.5 55.1 55.5 55
Services PMI (points) 55.50 54.9 53.6 54 54.4 55
Industrial Production (%) 0.00 4.6 3.2 3.8 3.2 3.4
Industrial Production Mom (%) -0.20 0.6 0.8 0.8 -1 0.5
Manufacturing Production (%) 8.10 5 3.4 4.2 4 3.8
Capacity Utilization (%) 77.70 77.5 77.8 78 78.2 78
Car Registrations 105175.00 122000 175200 156000 184000 145000
Mining Production (%) -0.30 4.5 3.4 4.1 3.6 3.2
Bankruptcies (Companies) 2539.00 3600 3200 3400 3000 3200
Composite PMI (points) 56.60 54.5 54.1 54.6 54.8 55.1

Consumer Actual Q4 Q1 Q2 Q3 2022
Consumer Confidence (points) 119.60 114 108 110 107 105
Retail Sales MoM (%) 0.40 0.6 0.9 0.7 -0.8 0.5
Retail Sales YoY (%) 1.90 5.6 3.8 4.6 3.8 3.2
Consumer Spending (EUR Million) 244547.50 248492 246052 246000 259220 253926
Disposable Personal Income (EUR Million) 294585.00 302288 309728 312260 306958 311961
Personal Savings (%) 12.90 13.8 12.6 12.4 12.2 12
Households Debt To GDP (% of GDP) 45.50 49 47 47 47 47
Households Debt To Income (%) 61.69 70 66 66 66 66
Bank Lending Rate (%) 1.71 1.71 1.71 1.71 1.71 1.71
Consumer Credit (EUR Million) 111200.39 115008 116221 115396 115871 118688
Gasoline Prices (USD/Liter) 2.10 2 1.9 1.8 1.71 1.62

Housing Actual Q4 Q1 Q2 Q3 2022
Construction Output (%) 9.10 5.6 3.2 4.5 3.4 2.7
Housing Index (points) 102.80 102 101 103 104 105
Construction PMI (points) 56.60 53.4 55 53.2 54 53.8
Home Ownership Rate (%) 72.40 70 67 67 67 67


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.