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.


Wednesday December 14 2016
Italy Inflation Rate Confirmed at 0.1% in November
Istat | Luisa Carvalho | luisa.carvalho@tradingeconomics.com

Italy´s consumer prices rose 0.1 percent year-on-year in November of 2016 after falling by 0.2 percent in October and matching preliminary estimates. Annual core inflation went up to 0.4 percent compared to 0.2 percent in the previous month. On a monthly basis, consumer prices fell 0.1 percent, at the same pace as in October and in line with flash estimates of 0.1 percent decline.

Year-on-year, prices increased for main categories: food and non-alcoholic beverages (+0.1 percent from -0.2 percent); transport (+0.9 percent from +0.6 percent in October) and recreation an culture (+0.7 percent, the same as in October). 

Meanwhile, prices fell for housing and utilities (-1.9 percent, unchanged from October) and clothing and footwear (-0.4 percent, unchanged from previous month).

Annual core inflation rate, which excludes energy and unprocessed food, rose to 0.4 percent from 0.2 percent in October. Excluding energy, inflation rate also went up 0.4 percent from 0.2 percent. 

On a monthly basis, consumer prices declined 0.1 percent, the same pace as in October and in line with flash estimates, mainly due to the decline of prices of recreation and culture (-0.9 percent) and transport (-0.9 percent).

The harmonized index rose 0.1 percent on the year and went down 0.2 percent on the month. 


Thursday December 01 2016
Italy Unemployment Rate Falls to 11.6%
Istat | Joana Taborda | joana.taborda@tradingeconomics.com

The jobless rate in Italy decreased to 11.6 percent in October of 2016 from 11.7 percent in the previous month, matching market expectations. However, the economy shed 30 thousand jobs and 82 thousand more people left the labour force.

There were 2.989 million unemployed people, 37 thousand less than in the previous month. Employment fell by 30 thousand to 22.75 million and those detached from the labour force increased by 82 thousand to 13.64 million. As a result, the employment rate declined by 0.1 percentage point to 57.2 percent and the inactivity rate rose by 0.2 percentage points to 35.1 percent.
 
Unemployment was steady at 11 percent for men but fell by 0.3 percentage points to 12.4 percent for women as more women were detached from the labour force. The inactivity rate for women went up by 0.3 percentage points to 45 percent while for men it increased by a smaller 0.1 percentage point to 25.2 percent.
 
Among youth, unemployment declined by 0.4 percentage points to 36.4 percent.


Thursday December 01 2016
Italy GDP Growth Confirmed at 0.3% QoQ in Q3
Istat l Rida Husna | rida@tradingeconomics.com

Italy's gross domestic product expanded 0.3 percent quarter-on-quarter in the three months to September, compared to an upwardly revised 0.1 percent growth in the June quarter and in line with preliminary estimates. Positive contributions from domestic demand offset a decline in net exports.

In the third quarter, domestic demand contributed 0.3 percentage points to growth (from +0.1 percentage points in the preceding quarter). Private consumption, investment and inventory accumulation each contributed 0.1 percentage points to quarterly growth. Government spending gave no contribution to growth. Net exports contributed negatively to growth (-0.1 percentage points from +0.3 percentage points).

Compared to the same quarter a year earlier, the GDP advanced 1.0 percent, slightly faster than earlier projections of a 0.9 percent growth.

For 2016, the economy is predicted to grow by 0.8 percent, lower than previous estimates of 1.2 percent expansion made in September.




Wednesday November 30 2016
Italian Inflation Beats Expectations in November
Istat | Yekaterina Guchshina | yekaterina@tradingeconomics.com

Italy's consumer prices rose 0.1 percent year-on-year in November 2016 after falling by 0.2 percent in October and better than market expectations of 0.1 percent drop. Annual core inflation went up to 0.4 percent compared to 0.2 percent in the previous month. On a monthly basis, consumer prices fell 0.1 percent, at the same pace as in October but less than market expectations of 0.3 percent decline.

Year-on-year, prices increased for transport (+0.7 percent vs +0.2 percent in October); recreation and culture (+0.2 percent vs 0.0 percent); restaurants and hotels (+0.9 percent vs -0.3 percent); clothing and footwear (+0.5 percent vs +0.4 percent); miscellaneous goods and services (+0.7 percent vs +0.4 percent) and remained unchanged for food (-0.2 percent in October) 

Meanwhile, prices fell for housing and utilities (-1.9 percent, at the same pace as in October); communication (-2.5 percent from -1.3 percent); and education (-1 percent from +0.9 percent); and hotels and restaurants (-0.9 percent from -0.1 percent). 

Excluding energy and unprocessed food, core inflation rate was recorded at 0.4 percent, from 0.2 percent in October. Excluding energy, the inflation fell to 0.5 percent from 0.6 percent. 

On a monthly basis, consumer prices declined 0.1 percent, at the same pace as in October but less than market expectations of 0.3 percent decline, mainly due to the decline of prices of transport (-0.4 percent); communication (-0.7 percent); recreation and culture (-0.3 percent); restaurants and hotels (-1.1 percent) and health (-0.1 percent).

The harmonized index rose 0.1 percent on the year and went down 0.2 percent on the month. 


Thursday November 17 2016
Italy Trade Surplus Above Expectations in September
Istat | Joana Ferreira | joana.ferreira@tradingeconomics.com

Italy's trade surplus rose to €3.67 billion in September 2016 from €2.19 billion in the same month of the previous year and better than market expectations of €2.85 billion surplus. Exports rose 3.1 percent while imports declined 2.7 percent. With European Union countries, Italy registered a trade surplus of €0.78 billion, compared with a surplus of €0.41 billion euros in September 2015.

Year-on-year, exports rose 3.1 percent to €35.86 billion from €34.79 billion, boosted by higher sales of: Vehicles (+13.6 percent); pharmaceutical preparations, medicinal chemical and botanical (+7.1 percent); sport goods, games, musical instruments and other products (+5.7 percent); food, beverages and tobacco (+5.7 percent); and agricultural goods (+5.4 percent). By contrast, exports fell for: Coke and refined petroleum products (-6.5 percent); and electrical equipment (-2 percent). By main industrial groups, sales rose for: consumer goods (+4.2 percent); capital goods (+3.3 percent); intermediate goods (+2.2 percent); but decreased for energy (-2.8 percent). 

The biggest increases in shipments were reported for China (+23.3 percent); Japan (+18.2 percent); the US (+11.1 percent); Spain (+7.3 percent); and Austria (+7.2 percent). Meanwhile, sales fell the most to OPEC countries (-10.9 percent), Belgium (-10.5 percent) and Turkey (-8.4 percent).

Imports shrank 2.7 percent to €32.19 billion from €33.10 billion in September 2015, led by a fall in purchases of natural gas (-22.1 percent), coke and refined petroleum products (-21.8 percent), crude oil (-13.7 percent), substances and chemicals (-11.1 percent) and agricultural goods (-8.2 percent). Meanwhile, imports of vehicles rose 19.5 percent. By main industrial groups, purchases fell for: energy (-18.8 percent); intermediate goods (-5.8 percent); and consumer goods (-0.7 percent); while imports of capital goods rose (+6.4 percent).

The decline in imports mainly reflected the fall in purchases from Russia (-22.4 percent), Belgium (-15.2 percent), the US (-14.7 percent), India (-10.8 percent), and China (-8.5 percent). In contrast, imports rose the most from Czech Republic (+18.3 percent) OPEC countries (+9.5 percent) and Spain (+7.3 percent).

With European Union countries, Italy registered a trade surplus of €0.78 billion, compared with a surplus of €0.41 billion euros in September 2015.