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. 




Thursday February 16 2017
Italy Trade Surplus Widens In December
Istat | Joana Ferreira | joana.ferreira@tradingeconomics.com

Italy's trade surplus rose to €5.80 billion in December 2016 from €5.59 billion in the same month of the previous year and better than market expectations of €4.0 billion. Exports increased by 5.7 percent to €36.2 billion, led by higher purchases of coke and refined petroleum products and vehicles; while imports grew by 6.1 percent to €30.4 billion, as purchases of vehicles and machinery and equipment rose the most.

Year-on-year, exports rose 5.7 percent to €36.21 billion from €34.26 billion, boosted by higher sales of: Coke and refined petroleum products (21.8 percent); vehicles (21.3 percent); sport goods, games, musical instruments and other products (12.3 percent); substances and chemicals (11 percent); and base metals (9.7 percent). By contrast, exports fell for transport equipment (-17 percent). By main industrial groups, sales rose for: Energy (24.5 percent); intermediate goods (6.5 percent); capital goods (4.8 percent); and consumer goods (4.3 percent).

The biggest increases in shipments were reported for China (20.9 percent); MERCOSUR countries (19.9 percent); Poland (19.1 percent); the US (12.1 percent); and Germany (10.3 percent). Meanwhile, sales fell to the Netherlands (-3.9 percent), Romania (-3.7 percent) and Switzerland (-3.5 percent).

Imports increased 6.1 percent to €30.42 billion from €32.90 billion in December 2015, led by gains in purchases of: Vehicles (29.3 percent); machinery and equipment (25 percent); coke and refined petroleum products (21.8 percent); crude oil (16.4 percent); and base metals (13.3 percent). Meanwhile, imports dropped for: transport equipment (-21 percent); and natural gas (-6.6 percent). By main industrial groups, purchases rose for: Capital goods (9.8 percent); energy (8.2 percent); intermediate goods (4.2 percent); and consumer goods (3.6 percent).

The rise in imports mainly reflected the increase in purchases from OPEC countries (67.7 percent), Turkey (29.7 percent), ASEAN countries (24.4 percent), MERCOSUR countries (17 percent) and Czech Republic (12.8 percent). By contrast, imports declined the most from the UK (-16.1 percent), China (-5 percent) and Romania (-2.6 percent).

With European Union countries, Italy registered a trade surplus of €0.12 billion, compared with a deficit of €0.30 billion euros in December 2015.

Considering the full year of 2016, the global trade surplus widened sharply to a record high of €51.57 billion from €41.81 billion in 2015. Exports grew 1.1 percent to €417.0 billion, due to higher sales of pharmaceutical products and medicines (6.8 percent), motor vehicles (6.3 percent), transport equipment (4.6 percent) and food, beverages and tobacco (4.2 percent). Exports went up to Japan (9.6 percent), China and Czech Republic (6.4 percent both), Spain (6.1 percent) and Germany (3.8 percent). Meanwhile, imports shrank 1.4 percent to €365.4 billion, due to lower purchases of natural gas (-28.5 percent) and crude oil (-20.4 percent). The drop in imports was mainly determined by purchases from Russia (-26.3 percent).




Tuesday February 14 2017
Italian GDP Growth Eases To 0.2% In Q4
Istat | Joana Ferreira | joana.ferreira@tradingeconomics.com

Italy's gross domestic product advanced 0.2 percent on quarter in the three months to December 2016, easing from a 0.3 percent growth in the previous period and in line with market expectations, the preliminary estimate showed.

The expansion was driven by domestic demand, while trade flows were a drag on growth. On the production side, industry and services activity expanded, while agriculture contracted.

Compared with the same quarter a year earlier, the GDP advanced 1.1 percent, the same as in the third quarter and also in line with market expectations.

In 2016, the GDP advanced 0.9 percent, the most in six years, following a 0.7 percent increase the year before and slightly better than 0.8 percent projected by the government. For 2017, the economy is expected to expand by 1 percent.




Friday February 03 2017
Italian Inflation Rate Highest Since September 2013
Istat | Deborah Neves | deborah.neves@tradingeconomics.com

Consumer prices in Italty are expected to rise 0.9 percent year-on-year in January of 2017 following 0.5 percent increase in the previous month and matching market expectations. It is the highest inflation rate since September of 2013, mainly boosted by cost of energy and unprocessed food, preliminary estimates showed. On a monthly basis, consumer prices increased by 0.2 percent.

Compared with January of 2016, the biggest upward pressure came from prices of non-regulated energy products (9 percent compared to 2.4 percent in December of 2016), unprocessed food (5.3 percent from 1.8 percent), food and non-alcoholic beverages (2.3 percent from 0.8 percent), transport (3.2 percent from 2.2 percent); restaurants and hotels (1 percent from 0.7 percent); miscellaneous goods and services (0.9 percent, the same pace as in December); clothing and footwear (0.5 percent, the same as in December) and health (0.4 percent, the same as in December). Meanwhile, housing prices (-0.5 percent from -1.8 percent in November) and cost of regulated energy products (-3 percent from -5.8 percent) declined less.

Annual core inflation rate, which excludes energy and unprocessed food, rose to 0.7 percent from 0.8 percent the previous month. Excluding only energy, the inflation went up to 0.8 percent from 0.7 percent in December of 2016.

On a monthly basis, consumer prices increased by 0.2 percent, following a 0.4 percent rise in December, mainly due to a decrease in prices of services related to transport (-1.7 percent) that offset a rise in non-regulated energy products (3 percent), unprocessed food (2.9 percent) and regulated energy products (1.3 percent).

In January of 2017, the harmonized index fell 2 percent month-over-month while increased 0.7 percent year-on-year.


Tuesday January 31 2017
Italian Unemployment Rate Unchanged At 18-Month High
Istat | Joana Ferreira | joana.ferreira@tradingeconomics.com

Italy's seasonally adjusted jobless rate came in at 12 percent in December 2016, unchanged from the revised November's figure and higher than market expectations of 11.8 percent. It was the highest reading since June 2015, as the number of unemployed persons rose 0.3 percent from the previous month while employment showed no growth.

There were 3.103 million unemployed people, 9 thousand more than in the previous month. Employment rose by 1 thousand to 22.783 million and those detached from the labour force decreased by 15 thousand to 13.485 million.

Youth unemployment, measuring job seekers between 15 and 24 years old, also increased to 40.1 percent, its highest level since June 2015, from a revised 40 percent in November.

The overall employment rate, one of the lowest in the Eurozone, was unchanged at 57.3 percent.




Tuesday January 17 2017
Italy Trade Surplus Widens In November
Istat | Joana Taborda | joana.taborda@tradingeconomics.com

The trade surplus in Italy increased 6.2 percent year-on-year to EUR 4.2 billion in November of 2016, above market expectations of a EUR 3.84 billion surplus. Exports jumped 5.7 percent, following a 2.2 percent drop in October and imports increased at a slightly slower 5.6 percent, recovering from a 1.6 percent fall in October.

Exports reached EUR 37.1 billion in November, boosted by sales of vehicles, excluding motor vehicles (+18.4 percent), motor vehicles (+13.7 percent) and chemicals and chemical products (+13.4 percent). Among main export partners, increases were recorded in shipments to the United States (+15.3 percent), Japan (+14.1 percent) and China (+12.8 percent) and within the European Union, Czech Republic (+12.7 percent), Romania (+9.1 percent) and Germany (+7 percent).

Imports increased to EUR 32.9 billion on higher purchases of motor vehicles (+27.8 percent), means of transport, except motor vehicles (+12.3 percent) and machinery and equipment (+11.6 percent). Imports from the EU countries increased 8.1 percent and those to non-EU countries rose 1.6 percent. 

Considering the first eleven months of 2016, the trade surplus increased by EUR 9.6 billion to EUR 45.8 billion, as exports edged up 0.7 percent and imports fell 2 percent. 


Monday January 16 2017
Italian Inflation Rate Confirmed At Highest Since May 2014
Istat | Joana Ferreira | joana.ferreira@tradingeconomics.com

Italy's consumer prices rose by 0.5 percent year-on-year in December 2016 after increasing by 0.1 percent in November, matching the preliminary estimate. It was the highest inflation rate since May 2014, mainly boosted by rising prices for food and transport.

Compared with December 2015, the biggest upward pressure came from food and non-alcoholic beverages (+0.8 percent from a flat reading in November); transport (+2.2 percent from +0.7 percent); restaurants and hotels (+0.7 percent, the same as in November); miscellaneous goods and services (+0.9 percent from +0.7 percent); health (+0.4 percent, the same as in November); and recreation and culture (+0.5 percent from +0.2 percent). By contrast, housing prices continued to fall (-1.8 percent from -1.9 percent in November).

Annual core inflation rate, which excludes energy and unprocessed food, rose to 0.6 percent from 0.4 percent the previous month. Excluding only energy, the inflation went up to 0.7 percent from 0.4 percent in November.

On a monthly basis, consumer prices increased by 0.4 percent, following a 0.1 percent drop in November, mainly due to the increase
of prices of services related to transport (+1.9 percent), non-regulated energy products (+1.1 percent), unprocessed food (+1 percent) and services related to recreation, including repair and personal care (+0.5 percent).

In the full year 2016, the average CPI fell 0.1 percent, the first annual drop since 1959, following a 0.1 percent gain in 2015.

The harmonized index rose by 0.5 percent on the year and by 0.4 from the previous month. Still, the index fell 0.1 percent in 2016.


Monday January 09 2017
Italy Jobless Rate At Highest Level Since June 2015
Istat | Joana Ferreira | joana.ferreira@tradingeconomics.com

Italy's seasonally adjusted jobless rate increased to 11.9 percent in November 2016 from an upwardly revised 11.8 percent in the previous month. It was the highest figure since June 2015, as the number of unemployed persons rose 1.9 percent while employment edged up 0.1 percent.

There were 3.089 million unemployed people, 57 thousand more than in the previous month. Employment rose by 19 thousand to 22.775 million and those detached from the labour force decreased by 93 thousand to 13.509 million.

Youth unemployment, measuring job seekers between 15 and 24 years old, also rose to 39.4 percent, its highest level since October of 2015, from a revised 37.6 percent in October. 

The overall employment rate, one of the lowest in the Eurozone, was up slightly at 57.3 percent from a previous 57.2 percent.


Wednesday January 04 2017
Italy Inflation Rate At 2-1/2-Year High Of 0.5%
Istat | Luisa Carvalho | luisa.carvalho@tradingeconomics.com

Italy's consumer prices are expected to increase 0.5 percent year-on-year in December of 2016 after edging up 0.1 percent in November. It was the highest inflation rate since May of 2014, mainly driven by cost of food and energy. On a monthly basis, consumer prices are expected to rise 0.4 percent.

Year-on-year, prices increased the most for: food and non-alcoholic beverages (+0.8 percent vs 0 percent in November); transport (+2.2 percent vs +0.7 percent); recreation and culture (+0.5 percent vs +0.2 percent) and miscellaneous goods and services (+0.9 percent vs +0.7 percent).

Meanwhile, prices fell for housing and utilities (-1.9 percent, unchanged from November), communications (-3.1 percent vs -2.5 percent) and education (-0.9 percent, unchanged from prior month).

Annual core inflation rate, which excludes energy and unprocessed food, rose to 0.6 percent from 0.4 percent in November. Excluding energy, inflation rate also went up 0.7 percent from 0.4 percent. 

The harmonized index increased 0.5 percent on the year and went up 0.4 percent on the month. 


Friday December 16 2016
Italy Trade Surplus Narrows In October
Istat | Yekaterina Guchshina | yekaterina@tradingeconomics.com

Italy's trade surplus decreased to €4.3 billion in October 2016 from €4.6 billion in the same month of the previous year and slightly higher market expectations of €4.21 billion surplus. Exports fell 2.2 percent, dragged down by lower sales of refined petroleum products (-14.3 percent) and computer, electronic and optical equipment (-10 percent). Imports declined 1.6 percent, led by a fall in purchases of natural gas (-27.7 percent) and base metals (-9.5 percent). With European Union countries, Italy registered a trade surplus of €0.5 billion.

Year-on-year, exports fell 3.1 percent year-on-year to €35.9 billion, dragged down by lower sales of refined petroleum products (-14.3 percent) and computer, electronic and optical equipment (-10 percent); paper and paper products (-7.5 percent); furnishings (-7.7 percent) and textiles (-9.8 percent). By main industrial groups, sales fell for: consumer goods (-1.2 percent); capital goods (-1.8 percent); intermediate goods (-2.7 percent) and energy (-14 percent). 

The biggest decreases in shipments were reported for Turkey (-16.6 percent); Romania (-10.7 percent); North Africa (-11.1 percent); Russia (-12.3 percent); France (-3.6 percent); Germany (-2.1 percent) and the US (-1.8 percent). ´

Imports declined 1.6 percent to €31.59 billion, led by a fall in purchases of natural gas (-27.7 percent); base metals (-9.5 percent); paper and paper products (-10.8 percent) and pharmaceutical preparations, medicinal chemical and botanical (-8 percent). By main industrial groups, purchases fell for: energy (-3.3 percent); intermediate goods (-5.8 percent); and consumer goods (-1.5 percent); while imports of capital goods rose (+4.5 percent).

The decline in imports mainly reflected the fall in purchases from Russia (-18.7 percent); Romania (-12.3 percent), Switzerland (-12.2 percent); and China (-8 percent).

With European Union countries, Italy registered a trade surplus of €0.5 billion.