Markets Actual Q1 Q2 Q3 Q4 2023
Currency 1.13 1.13 1.12 1.12 1.12 1.11
Stock Market (points) 26751.18 26048 25363 24697 24047 22799
Government Bond 10Y (%) 1.36 1.45 1.55 1.65 1.77 2.01

Overview Actual Q1 Q2 Q3 Q4 2023
GDP Growth Rate (%) 2.60 1 0.8 0.7 0.6 0.4
GDP Annual Growth Rate (%) 3.90 2.6 1 1.2 2.2 2.3
Unemployment Rate (%) 9.20 9.4 9.3 9.2 9.4 9.1
Inflation Rate (%) 3.90 3.6 3.4 3.2 3.1 2.2
Inflation Rate Mom (%) 0.40 0.3 0.4 -0.3 0.5 0.5
Interest Rate (%) 0.00 0 0 0 0.1 0.25
Balance of Trade (EUR Million) 4163.83 4900 5400 7700 9100 8900
Current Account (EUR Million) 4682.00 2230 2860 4700 2870 1510
Current Account to GDP (% of GDP) 3.60 3.2 3.2 3.2 3.2 3.5
Government Debt to GDP (% of GDP) 155.80 157 157 157 157 151
Government Budget (% of GDP) -9.50 -6 -6 -6 -6 -2.8
Business Confidence (points) 115.20 111 108 105 102 100
Manufacturing PMI (points) 62.00 54.5 55.1 55.5 55 55
Services PMI (points) 53.00 53.6 54 54.4 55 55
Consumer Confidence (points) 117.70 108 110 107 105 105
Retail Sales MoM (%) -0.40 0.9 0.7 -0.8 0.5 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 Q1 Q2 Q3 Q4 2023
GDP Growth Rate (%) 2.60 1 0.8 0.7 0.6 0.4
GDP Annual Growth Rate (%) 3.90 2.6 1 1.2 2.2 2.3
GDP (USD Billion) 1886.45 2000 2000 2000 2000 2380
GDP Constant Prices (EUR Million) 425022.20 414001 418373 430122 434373 444363
Gross Fixed Capital Formation (EUR Million) 82884.30 81580 82379 83879 84708 86656
GDP per capita (USD) 29287.08 35200 35200 35200 35200 36000
GDP per capita PPP (USD) 38992.15 41200 41200 41200 41200 42000
GDP From Agriculture (EUR Million) 7733.00 8163 7974 7826 7903 8085
GDP From Construction (EUR Million) 19224.00 18969 19300 19455 19647 20099
GDP From Manufacturing (EUR Million) 75304.00 75635 75472 76208 76961 78731
GDP From Services (EUR Million) 281296.00 271347 274794 284672 287485 294097

Labour Actual Q1 Q2 Q3 Q4 2023
Unemployment Rate (%) 9.20 9.4 9.3 9.2 9.4 9.1
Employed Persons (Thousand ) 23058.76 23400 23500 23550 23600 23900
Unemployed Persons (Thousand ) 2338.12 2290 2280 2250 2210 2200
Employment Rate (%) 58.60 58.6 58.7 58.8 58.9 59.1
Labor Force Participation Rate (%) 65.00 64.7 64.8 64.9 65.1 65.4
Long Term Unemployment Rate (%) 5.60 5.8 5.7 5.6 5.8 5.8
Youth Unemployment Rate (%) 28.00 28.2 28.1 28 28.2 28.2
Labour Costs (points) 112.20 110 114 115 114 111
Wages (EUR/Month) 2333.00 2580 2359 2361 2359 2392
Wages in Manufacturing (points) 104.60 105 105 106 106 106
Wage Growth (%) 0.60 1.2 1.1 1.3 1.4 1.6
Population (Million) 59.64 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 (%) 1.50 0.6 0.4 0.3 0.4 0.4

Prices Actual Q1 Q2 Q3 Q4 2023
Inflation Rate (%) 3.90 3.6 3.4 3.2 3.1 2.2
Inflation Rate Mom (%) 0.40 0.3 0.4 -0.3 0.5 0.5
Consumer Price Index CPI (points) 106.60 107 108 108 110 112
Harmonised Consumer Prices (points) 107.80 108 109 109 111 114
Core Consumer Prices (points) 104.30 105 105 105 106 108
Core Inflation Rate (%) 1.50 1.2 1.1 1.3 1.4 1.7
GDP Deflator (points) 106.13 109 110 110 109 112
Producer Prices (points) 122.80 130 137 132 137 140
Producer Prices Change (%) 22.10 25.2 26.8 16.3 11.5 2.5
Food Inflation (%) 2.90 1.5 1.4 1.5 1.7 1.7
CPI Housing Utilities (points) 116.00 107 108 111 120 122
CPI Transportation (points) 112.30 113 113 113 113 114

Money Actual Q1 Q2 Q3 Q4 2023
Interest Rate (%) 0.00 0 0 0 0.1 0.25
Interbank Rate (%) -0.58 -0.58 -0.58 -0.58 -0.48 -0.48
Money Supply M2 (EUR Million) 1887406.00 1940000 1950000 1970000 1990000 2070000
Banks Balance Sheet (EUR Million) 4003532.04 4080000 4110000 4130000 4150000 4150000
Loans to Private Sector (EUR Million) 662624.00 674000 673200 676000 681000 696000
Private Debt to GDP (%) 180.00 175 175 175 175 171
Central Bank Balance Sheet (EUR Million) 1572861.80 1591000 1604000 1615000 1631000 1661000

Trade Actual Q1 Q2 Q3 Q4 2023
Balance of Trade (EUR Million) 4163.83 4900 5400 7700 9100 8900
Current Account (EUR Million) 4682.00 2230 2860 4700 2870 1510
Current Account to GDP (% of GDP) 3.60 3.2 3.2 3.2 3.2 3.5
Imports (EUR Million) 44130.19 42900 36100 41200 37100 40500
Exports (EUR Million) 48293.02 47800 41500 48900 46200 49400
External Debt (EUR Million) 2409210.00 2420000 2440000 2445000 2450000 2490000
Capital Flows (EUR Million) 3104.00 1850 3040 1980 3020 2840
Gold Reserves (Tonnes) 2451.84 2452 2452 2452 2452 2452
Tourism Revenues (EUR Million) 1754.00 1720 3640 3800 2300 2700
Foreign Direct Investment (EUR Million) -981.00 2420 2690 2980 510 750
Crude Oil Production (BBL/D/1K) 102.00 110 100 88 105 95

Government Actual Q1 Q2 Q3 Q4 2023
Government Debt to GDP (% of GDP) 155.80 157 157 157 157 151
Government Budget (% of GDP) -9.50 -6 -6 -6 -6 -2.8
Government Budget Value (EUR Billion) -37.97 -47 -25 -23 -23 -20
Government Spending (EUR Million) 81385.80 83993 82032 82362 83176 85089
Government Spending to GDP (% of GDP) 57.30 53 53 53 53 51
Government Revenues (EUR Billion) 32.55 37 34 36 96 101
Government Debt (EUR Million) 2694232.60 2745000 2755000 2764000 2774000 2824000
Fiscal Expenditure (EUR Billion) 70.52 84 59 59 119 121

Taxes Actual Q1 Q2 Q3 Q4 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 Q1 Q2 Q3 Q4 2023
Business Confidence (points) 115.20 111 108 105 102 100
Manufacturing PMI (points) 62.00 54.5 55.1 55.5 55 55
Services PMI (points) 53.00 53.6 54 54.4 55 55
Industrial Production (%) 6.30 3.2 3.8 3.2 3.4 3.4
Industrial Production Mom (%) 1.90 0.8 0.8 -1 0.5 0.4
Manufacturing Production (%) 5.60 3.4 4.2 4 3.8 3.8
Capacity Utilization (%) 78.00 77.8 78 78.2 78 79
Car Registrations 86679.00 175200 156000 184000 145000 169000
Mining Production (%) -6.30 3.4 4.1 3.6 3.2 3.2
Bankruptcies (Companies) 2539.00 3200 3400 3000 3200 2900
Composite PMI (points) 54.70 54.1 54.6 54.8 55.1 55.1

Consumer Actual Q1 Q2 Q3 Q4 2023
Consumer Confidence (points) 117.70 108 110 107 105 105
Retail Sales MoM (%) -0.40 0.9 0.7 -0.8 0.5 0.5
Retail Sales YoY (%) 12.50 3.8 4.6 3.8 3.2 3.2
Consumer Spending (EUR Million) 251594.50 239019 246989 254614 257130 263044
Disposable Personal Income (EUR Million) 298072.00 301159 297531 301649 304630 311636
Personal Savings (%) 11.00 12.6 12.4 12.2 12 9.5
Households Debt To GDP (% of GDP) 44.10 47 47 47 47 45
Households Debt To Income (%) 64.36 66 66 66 66 63
Gasoline Prices (USD/Liter) 2.08 1.98 1.88 1.78 1.69 1.61
Bank Lending Rate (%) 1.61 1.61 1.61 1.61 1.71 1.71
Consumer Credit (EUR Million) 111891.68 112919 109952 112704 114353 116983

Housing Actual Q1 Q2 Q3 Q4 2023
Construction Output (%) 13.20 11.3 11.1 7.4 3.5 4.5
Housing Index (points) 104.00 101 103 104 105 110
Home Ownership Rate (%) 72.40 67 67 67 67 65
Construction PMI (points) 64.40 55 53.2 54 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 Monday, January 24, 2022.