Wednesday April 19 2017
Italy Trade Surplus Narrows In February
Istat | Yekaterina Guchshina | yekaterina@tradingeconomics.com

Italy's trade surplus declined to €1.84 billion deficit in February 2017 from €3.9 billion in the same month of the previous year while market expected €2.24 billion surplus. Exports increased by 2.3 percent to €34.9 billion, led by higher purchases of coke and refined petroleum products and vehicles; while imports grew by 9.1 percent to €33 billion, as purchases of crude oil and coke and refined petroleum products rose the most. With EU countries, Italy registered a trade surplus of €0.2 billion and with non-EU ones - €1.7 billion.

Year-on-year, exports rose 2.3 percent to €34.9 billion, boosted by higher sales of: coke and refined petroleum products (80.8 percent); vehicles (12.7 percent); chemicals (6.6 percent); and agriculture, forestry and fisheries products (5 percent). By main industrial groups, sales rose for: energy (75.6 percent); intermediate goods (2 percent) and consumer goods (0.9 percent).

The biggest increases in shipments were reported for: China (31.5 percent); Russia (25.4 percent); Spain (9.8 percent) and Poland (8.5 percent). 

Imports increased 9.1 percent to €33 billion, led by gains in purchases of: crude oil (105.3 percent); coke and refined petroleum products (53.6 percent); vehicles (13.8 percent); pharmaceuticals and chemicals (13.8 percent); and computers and electrical appliances (11.3 percent). By main industrial groups, purchases rose for: energy (57 percent); capital goods (6.9 percent); intermediate goods (4.1 percent); and consumer goods (3.8 percent).

The rise in imports mainly reflected the increase in purchases from OPEC countries (54.9 percent), Russia (33.2 percent), Turkey (19.3 percent), Austria (8 percent) and Spain (10.5 percent) and India (38.5 percent).




Thursday April 13 2017
Italian Inflation Rate Confirmed At 1.4% In March
Istat | Joana Ferreira | joana.ferreira@tradingeconomics.com

Italian consumer prices increased by 1.4 percent year-on-year in March 2017, easing from a 1.6 percent gain in the previous month and matching the preliminary estimate. Prices rose at a slower pace for food and transport.

Year-on-year, prices rose at a slower pace for food and non-alcoholic beverages (2.8 percent from 3.8 in February) and transport (4.6 percent from 4.9 percent). Additional upward pressure came from: Restaurants and hotels (1.2 percent from 1.1 percent in February); housing, water, electricity, gas and other fuels (0.2 percent after showing no growth in February); health (inflation steady at 0.4 percent); recreation and culture (0.4 percent from 0.1 percent); and clothing and footwear (inflation steady at 0.4 percent).

Annual core inflation rate, which excludes energy and unprocessed food, went up to 0.7 percent from 0.6 percent in February. Excluding only energy, the inflation went down to 1.2 percent from 1.3 percent in February.

On a monthly basis, consumer prices showed no growth after increasing by 0.4 percent in February. Prices of unprocessed food fell 2.7 percent while cost of services related to transport increased by 1.1 percent.

The harmonized index rose by 1.4 percent on the year and by 1.9 percent from the previous month. 




Monday April 03 2017
Italy Unemployment Rate Falls To 6-Month Low In February
Istat |Luisa Carvalho | luisa.carvalho@tradingeconomics.com

Italy's seasonally adjusted jobless rate decreased to 11.5 percent in February of 2017 compared to a downwardly revised 11.8 percent in January and lower than market expectations of 11.9 percent. It is the lowest reading since August last year, as the number of unemployed persons decreased by 82.5 thousand from the previous month and employment increased by 23 thousand. Meanwhile, the employment rate stood at 57.5 percent.

There were 2.984 million unemployed people, 83 thousand less than in the previous month. Employment rose by 8 thousand to 22.862 million and those detached from the labour force went up by 51 thousand to 13.485 million.

Youth unemployment rate, measuring job-seekers between 15 and 24 years old, decreased to 35.2 from 36.9 in January.

Italy's overall employment rate, one of the lowest in the Euro Area, stood at 57.5 percent.




Friday March 31 2017
Italy Inflation Slows To 1.4% In March
Istat | Yekaterina Guchshina | yekaterina@tradingeconomics.com

Consumer prices in Italy are expected to rise 1.4 percent year-on-year in March of 2017, following a 1.6 percent increase in February and below market expectations of 1.5 percent, according to preliminary estimates. Prices rose at a slower pace for food and transport. On a monthly basis, prices were flat compared to market expectations of 0.1 percent gain.

Year-on-year, prices rose at a slower pace for food and non-alcoholic beverages (2.8 percent compared to 3.8 percent in February) and transport (4.6 percent compared to 4.9 percent). Meanwhile, cost accelerated for restaurants and hotels (1.2 percent compared to 1.1 percent), recreation and culture (0.4 percent from 0.1 percent) and housing and utilities (0.1 percent compared to 0.0 percent).

Annual core inflation rate, which excludes energy and unprocessed food rose to 0.7 percent from 0.6 percent the previous month. Excluding only energy, the inflation went up to 1.1 percent from 1.3 percent in February.

On a monthly basis, consumer prices were flat, following 0.4 percent increase in February. 

The harmonized index rose 1.8 percent on the month (0.2 percent in February) and 1.3 percent on the year (1.6 percent in January).


Friday March 17 2017
Italy Posts Largest Trade Gap In 4 Years
Istat | Yekaterina Guchshina | yekaterina@tradingeconomics.com

Italy's trade balance shifted to €0.57 billion deficit in January 2017 from €0.03 billion in the same month of the previous year while market expected €3.45 billion surplus. It was the first trade gap since January of 2015 and the biggest since January of 2013. Exports increased by 13.3 percent to €31.7 billion, led by higher purchases of coke and refined petroleum products and vehicles; while imports grew by 15.5 percent to €32.3 billion, as purchases of crude oil and coke and refined petroleum products rose the most. With EU countries, Italy registered a trade surplus of €0.3 billion while with non-EU ones a trade gap of €0.9 billion.

Year-on-year, exports rose 13.3 percent to €31.7 billion, boosted by higher sales of: coke and refined petroleum products (69.4 percent); vehicles (27.7 percent); pharmaceuticals (25.9 percent); and electrical equipment (16.2 percent). By main industrial groups, sales rose for: energy (75.7 percent); intermediate goods (11.4 percent); capital goods (14.1 percent); and consumer goods (9.4 percent).

The biggest increases in shipments were reported for: ASEAN (57 percent); Russia (39.4 percent); China (36.5 percent); the United States (35.8 percent) and Japan (28.8 percent). 

Imports increased 15.5 percent to €32.3 billion, led by gains in purchases of: crude oil (123.9 percent); coke and refined petroleum products (53.6 percent); vehicles (27.9 percent); natural gas (17.3 percent); and base metals (15.8 percent). By main industrial groups, purchases rose for: energy (62.5 percent); capital goods (13.1 percent); intermediate goods (15.9 percent); and consumer goods (2.1 percent).

The rise in imports mainly reflected the increase in purchases from OPEC countries (53.4 percent), Russia (43.3 percent), Turkey (29.6 percent), Austria (23 percent) and Spain (20.6 percent).


Wednesday March 15 2017
Italy Inflation Rate Revised Up To 1.6% In February
Istat |Luisa Carvalho | luisa.carvalho@tradingeconomics.com

Consumer prices in Italy rose 1.6 percent year-on-year in February of 2017 following a 1 percent increase in the previous month and slightly above preliminary estimates of 1.5 percent gain. It is the highest inflation rate since March of 2013, mainly driven by prices of food and transport.

Year-on-year, main upward pressure came from cost of food and non-alcoholic beverages (3.8 percent compared to 2.3 percent in January); transport (4.9 percent compared to 3.2 percent); restaurants and hotels (1.1 percent, the same pace as in January) and miscellaneous goods and services (1.1 percent compared to 0.9 percent). In addition, prices of housing and utilities were flat (from -0.5 percent in January).

Annual core inflation rate, which excludes energy and unprocessed food rose to 0.6 percent from 0.5 percent the previous month. Excluding only energy, the inflation went up to 1.3 percent from 0.8 percent in January.

On a monthly basis, consumer prices rose 0.4 percent compared to a 0.3 percent increase in January.  

The harmonized index rose 0.2 percent on the month (from -1.7 percent in January) and 1.6 percent on the year (from 1 percent in January).


Friday March 03 2017
Italy Q4 GDP Growth Rate Confirmed At 0.2%
Istat | Joana Ferreira | joana.ferreira@tradingeconomics.com

Italy's gross domestic product advanced 0.2 percent on quarter in the three months to December of 2016 compared to a 0.3 percent expansion in the previous period and matching the preliminary estimate. It was the weakest growth rate in one year, as domestic demand continued to boost output while inventories fell.

From the expenditure side, the positive contribution to GDP came from final domestic demand (0.4 percentage points), namely fixed investment (0.2 percentage points) and government spending (0.1 percentage points). In contrast, changes in inventories subtracted 0.2 percentage points from growth, while consumer spending and net exports showed no contribution.

Fixed investment grew by 1.3 percent (from 1.5 percent in Q3), boosted by spending on transport equipment (13.6 percent from 10.7 percent in Q3), construction (0.5 percent from 0.7 percent in Q3) and machinery and equipment (0.4 percent from 1.1 percent in Q3). Also government spending rebounded 0.6 percent after falling by 0.2 percent in the previous period. Meanwhile, household expenditure edged up 0.1 percent (from 0.2 percent in Q3); exports increased by 1.9 percent (from 0.3 percent in Q3) and imports by 2.2 percent (from 1 percent in Q3).

From the production side, industrial output grew 0.8 percent (the same as in Q3), as manufacturing advanced 0.9 percent (1 percent in Q3) and construction rebounded 0.6 percent (after showing no growth in Q3). Service sector stagnated (from 0.1 percent in Q3); and agriculture contracted 3.7 percent, the fourth period of decline (from -1.1 percent in Q3).

Compared with the same period of 2015, the economy expanded 1 percent, the same as in the previous period and below a preliminary reading of 1.1 percent growth.

In 2016, the economy advanced also 1 percent after growing by 0.7 percent in 2015 and by 0.2 percent in 2014. The government forecasts 1 percent economic growth in 2017.




Thursday March 02 2017
Italy Unemployment Rate Unchanged At 1-1/2-Year High
Istat | Joana Ferreira | joana.ferreira@tradingeconomics.com

Italy's seasonally adjusted jobless rate stood at 11.9 percent in January 2017, unchanged from the revised December's figure and slightly lower than market expectations of 12 percent. It was the highest reading since June 2015, as the number of unemployed persons rose by 2 thousand from the previous month and employment increased by 30 thousand.

There were 3.097 million unemployed people, 2 thousand more than in the previous month. Employment rose by 30 thousand to 22.856 million and those detached from the labour force decreased by 42 thousand to 13.401 million.

Youth unemployment rate, measuring job-seekers between 15 and 24 years old, declined to 37.9 percent from 39.2 percent in December.

Italy's overall employment rate, one of the lowest in the Euro Area, edged up to 57.5 percent, its highest reading since May 2009, from 57.4 percent in December.


Tuesday February 28 2017
Italy Inflation Rate At Near 4-Year High Of 1.5%
Istat | Joana Taborda | joana.taborda@tradingeconomics.com

Consumer prices in Italy are expected to rise 1.5 percent year-on-year in February of 2017, following a 1 percent increase in January. It is the highest inflation rate since March of 2013, mainly boosted by cost of food and transport, preliminary estimates showed.

Year-on-year, main upward pressure came from cost of food and non-alcoholic beverages (3.8 percent compared to 2.3 percent in January); transport (4.9 percent compared to 3.2 percent); restaurants and hotels (1.2 percent compared to 1.1 percent) and miscellaneous goods and services (1 percent compared to 0.9 percent). In addition, prices of housing and utilities fell less (-0.4 percent compared to -0.5 percent). ~

Annual core inflation rate, which excludes energy and unprocessed food rose to 0.6 percent from 0.5 percent the previous month. Excluding only energy, the inflation went up to 1.3 percent from 0.8 percent in January.

On a monthly basis, consumer prices rose 0.3 percent, the same as in December. 

The harmonized index rose 0.2 percent on the month (0.3 percent in December) and 1.6 percent on the year (1 percent in December).


Wednesday February 22 2017
Italy Inflation Rate Revised Up To 1% In January
Istat | Yekaterina Guchshina | yekaterina@tradingeconomics.com

Consumer prices in Italy rose 1 percent year-on-year in January of 2017 following 0.5 percent increase in the previous month and above preliminary estimates of 0.9 percent. It is the highest inflation rate since August of 2013, mainly boosted by cost of food and transport. On a monthly basis, consumer prices increased by 0.3 percent, above preliminary estimates of 0.2 percent.

Compared with January 2016, the biggest upward pressure came from food and non-alcoholic beverages (1.3 percent from 0.8 in December); transport (3.2 percent from 2.2 percent); restaurants and hotels (1.1 percent from 0.7 percent). Also, housing prices fell less (-0.5 percent from -1.8 percent in December).

Annual core inflation rate, which excludes energy and unprocessed food, declined to 0.5 percent from 0.6 percent the previous month. Excluding only energy, the inflation went up to 0.8 percent from 0.7 percent in December.

On a monthly basis, consumer prices increased by 0.3 percent, following a 0.4 percent rise in December, mainly due to the increase of prices of food (1.3 percent), housing (0.7 percent), restaurants and hotels (0.1 percent) and health (0.2 percent).

The harmonized index rose by 1 percent on the year and fell by 1.7 percent from the previous month.