Markets Actual Q3 Q4 Q1 Q2 2023
Currency 0.96 0.96 0.94 0.93 0.92 0.89
Stock Market (points) 20842.24 20203 19375 18581 17818 16387
Government Bond 10Y (%) 4.73 4.61 4.87 5.15 5.45 6.09

Overview Actual Q3 Q4 Q1 Q2 2023
GDP Growth Rate (%) 1.10 -0.8 0 0.2 0.3 0.4
GDP Annual Growth Rate (%) 4.70 0.6 0.4 1.4 2 2.3
Unemployment Rate (%) 7.90 8 8.3 8.7 8.6 8.8
Inflation Rate (%) 8.40 9.2 8.3 5.5 4 2.2
Inflation Rate MoM (%) 0.80 0.5 0.5 0.2 0.3 0.5
Interest Rate (%) 1.25 1.25 2.5 3 3.5 3.5
Balance of Trade (EUR Million) -361.00 2700 5100 4400 6600 10900
Current Account (EUR Million) 1636.00 2000 1870 2980 2950 3200
Current Account to GDP (% of GDP) 2.50 1.2 1.2 3.5 3.5 3.5
Government Debt to GDP (% of GDP) 150.80 148 148 147 147 147
Government Budget (% of GDP) -7.20 -5.7 -5.7 -4.5 -4.5 -4.5
Business Confidence (points) 104.30 103 100 104 102 105
Manufacturing PMI (points) 48.00 47.6 49 50.5 51 51.5
Services PMI (points) 50.50 50.8 50 51.3 51 51.3
Consumer Confidence (points) 98.30 96.5 95 92.5 95 105
Retail Sales MoM (%) 1.30 -0.8 -0.2 0.3 0.4 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 2023
GDP Growth Rate (%) 1.10 -0.8 0 0.2 0.3 0.4
GDP Annual Growth Rate (%) 4.70 0.6 0.4 1.4 2 2.3
GDP (USD Billion) 2099.88 2000 2000 2380 2380 2380
GDP Constant Prices (EUR Million) 434338.50 427572 430313 434309 443025 440210
Gross Fixed Capital Formation (EUR Million) 91652.80 83382 86889 91603 93486 88887
GDP per Capita (USD) 31511.79 35200 35200 35200 35200 36000
GDP per Capita PPP (USD) 41937.21 41200 41200 41200 41200 42000
Full Year GDP Growth (%) 6.60 3.1 3.1 0.5 0.5 0.5
GDP from Agriculture (EUR Million) 7771.60 7779 7760 7980 7927 7939
GDP from Construction (EUR Million) 21997.70 19339 20342 21939 22438 20810
GDP from Manufacturing (EUR Million) 76703.40 75756 76664 76653 78237 78427
GDP from Services (EUR Million) 284516.30 282984 282389 285641 290207 288884

Labour Actual Q3 Q4 Q1 Q2 2023
Unemployment Rate (%) 7.90 8 8.3 8.7 8.6 8.8
Employed Persons (Thousand ) 23204.53 23550 23600 23650 23650 23900
Unemployed Persons (Thousand ) 1977.91 2250 2210 2210 2210 2200
Employment Rate (%) 59.90 58.8 58.9 58.9 58.9 59.1
Labor Force Participation Rate (%) 65.20 64.9 65.1 65.3 65.3 65.4
Long Term Unemployment Rate (%) 5.20 5.3 5.6 6 5.9 6
Youth Unemployment Rate (%) 23.80 23.9 24.2 24.6 24.5 24.6
Labour Costs (points) 113.10 114 111 109 115 113
Wages (EUR/Month) 2333.00 2580 2359 2361 2359 2392
Wages in Manufacturing (points) 106.30 106 106 107 108 108
Wage Growth (%) 1.20 1.3 1.4 1.4 1.4 1.6
Population (Million) 59.24 59.1 59.1 59.1 59.1 58.7
Retirement Age Women 67.00 67 67 67 67 67
Retirement Age Men 67.00 67 67 67 67 67
Employment Change (%) 0.30 0.3 0.4 0.4 0.4 0.4

Prices Actual Q3 Q4 Q1 Q2 2023
Inflation Rate (%) 8.40 9.2 8.3 5.5 4 2.2
Inflation Rate MoM (%) 0.80 0.5 0.5 0.2 0.3 0.5
Consumer Price Index CPI (points) 113.90 115 115 116 117 118
Harmonised Consumer Prices (points) 113.80 115 117 117 119 119
Core Consumer Prices (points) 108.90 105 106 107 109 108
Core Inflation Rate (%) 4.40 1.3 1.4 1.4 1.4 1.7
GDP Deflator (points) 108.43 116 115 113 113 117
Producer Prices (points) 152.10 132 138 152 155 142
Producer Prices Change (%) 36.90 16.3 11.5 6.8 6.8 2.5
Food Inflation (%) 10.60 10.9 9.5 7 5.5 3.7
CPI Housing Utilities (points) 141.80 118 126 140 139 128
CPI Transportation (points) 122.20 123 123 124 124 125

Money Actual Q3 Q4 Q1 Q2 2023
Interest Rate (%) 1.25 1.25 2.5 3 3.5 3.5
Interbank Rate (%) 0.40 0.4 1.65 2.15 2.65 2.65
Money Supply M2 (EUR Million) 1949499.00 1970000 1990000 1990000 1990000 2070000
Banks Balance Sheet (EUR Million) 4038256.92 4130000 4150000 4150000 4150000 4150000
Loans to Private Sector (EUR Million) 673962.00 676000 681000 681000 681000 696000
Private Debt to GDP (%) 166.87 175 175 175 175 171
Central Bank Balance Sheet (EUR Million) 1576215.60 1615000 1631000 1631000 1631000 1661000

Trade Actual Q3 Q4 Q1 Q2 2023
Balance of Trade (EUR Million) -361.00 2700 5100 4400 6600 10900
Current Account (EUR Million) 1636.00 2000 1870 2980 2950 3200
Current Account to GDP (% of GDP) 2.50 1.2 1.2 3.5 3.5 3.5
Imports (EUR Million) 58170.29 56200 50100 48200 45500 42500
Exports (EUR Million) 57808.80 58900 55200 52600 52100 53400
External Debt (EUR Million) 2477624.00 2445000 2450000 2450000 2450000 2490000
Capital Flows (EUR Million) 2885.40 1980 3020 3020 3020 2840
Gold Reserves (Tonnes) 2451.84 2452 2452 2452 2452 2452
Tourism Revenues (EUR Million) 5619.16 3800 2300 2300 2300 2700
Crude Oil Production (BBL/D/1K) 127.00 88 105 105 105 95
Foreign Direct Investment (EUR Million) -571.00 2980 510 510 510 750

Government Actual Q3 Q4 Q1 Q2 2023
Government Debt to GDP (% of GDP) 150.80 148 148 147 147 147
Government Budget (% of GDP) -7.20 -5.7 -5.7 -4.5 -4.5 -4.5
Government Budget Value (EUR Billion) 15.17 -23 -23 -23 -23 -20
Government Spending (EUR Million) 79473.50 81874 81053 81409 81063 82918
Government Spending to GDP (% of GDP) 55.50 53 53 53 53 51
Government Revenues (EUR Billion) 64.65 36 96 96 96 101
Government Debt (EUR Million) 2770463.00 2764000 2774000 2774000 2774000 2824000
Fiscal Expenditure (EUR Billion) 49.48 59 119 119 119 121

Taxes Actual Q3 Q4 Q1 Q2 2023
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 2023
Business Confidence (points) 104.30 103 100 104 102 105
Manufacturing PMI (points) 48.00 47.6 49 50.5 51 51.5
Services PMI (points) 50.50 50.8 50 51.3 51 51.3
Industrial Production (%) -1.40 -1.6 -2.9 -0.7 1.5 2.3
Industrial Production Mom (%) 0.40 -1 0.5 0.3 0.4 0.4
Manufacturing Production (%) -1.71 2.4 3.8 3 3.5 3.2
Capacity Utilization (%) 78.60 78.2 78 78 78 79
Car Registrations 71190.00 184000 145000 145000 145000 169000
Electricity Price (EUR/MWh) 427.07 698 789 891 1007 1285
Mining Production (%) -2.99 2.6 3.2 3.1 2.8 3
Composite PMI (points) 49.60 54.8 55.1 55.1 55.1 55.1
Bankruptcies (Companies) 2242.00 3000 3200 3200 3200 2900

Consumer Actual Q3 Q4 Q1 Q2 2023
Consumer Confidence (points) 98.30 96.5 95 92.5 95 105
Retail Sales MoM (%) 1.30 -0.8 -0.2 0.3 0.4 0.5
Retail Sales YoY (%) 4.20 3.5 1.8 2.7 3.3 5.5
Consumer Spending (EUR Million) 256842.30 253104 253532 253866 261979 259363
Disposable Personal Income (EUR Million) 313312.00 299860 306534 317698 319578 313585
Personal Savings (%) 12.60 12.2 12 12 12 9.5
Households Debt to GDP (% of GDP) 43.10 47 47 47 47 45
Households Debt to Income (%) 64.36 66 66 66 66 63
Gasoline Prices (USD/Liter) 1.88 1.95 2.03 2.1 2.19 2.19
Consumer Credit (EUR Million) 114278.00 112036 111922 113398 115745 114496
Bank Lending Rate (%) 1.88 1.88 3.13 3.63 4.13 4.13

Housing Actual Q3 Q4 Q1 Q2 2023
Construction Output (%) 5.90 -0.2 -3 -0.5 1.5 2
Housing Index (points) 105.80 104 105 105 105 110
Home Ownership Rate (%) 75.10 67 67 67 67 65
Construction PMI (points) 41.20 54 53.8 53.8 53.8 53.8


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Italy Forecast - was last updated on Tuesday, September 27, 2022.