Italy GDP Growth Rate

The Gross Domestic Product (GDP) in Italy expanded 0.10 percent in the fourth quarter of 2013 over the previous quarter. GDP Growth Rate in Italy is reported by the National Institute of Statistics (ISTAT). GDP Growth Rate in Italy averaged 0.63 Percent from 1960 until 2013, reaching an all time high of 6 Percent in the first quarter of 1970 and a record low of -3.50 Percent in the first quarter of 2009. Italy has the eighth largest economy in the world and the third largest in the Euro Zone. The country has a diversified industrial base driven in large part by manufacturing of high-quality consumer goods. After joining the European Union in 1952, Italy experienced several decades of growth rates above 4 percent. Yet, after 1992, the expansion rates went below EU average. Since then, the government has been trying to revive the economy by increasing public spending. As a result, the public debt and budget deficit have reached unsustainable levels and the country is facing tough austerity measures and the second recession in four years. This page provides - Italy GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-25

Actual Previous Highest Lowest Forecast Dates Unit Frequency
0.10 -0.10 6.00 -3.50 0.27 | 2014/03 1960 - 2013 Percent Quarterly


Italy GDP Growth Rate

CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-11-14 09:00 AM Italy
GDP Growth Rate QoQ
Q3 2013 -0.1% -0.3% -0.1% -0.22%
2013-12-10 10:00 AM Italy
GDP Growth Rate QoQ F.
Q3 2013 0.0% -0.3% -0.1% -0.22%
2014-02-14 09:00 AM Italy
GDP Growth Rate QoQ Adv
Q4 2013 0.1% 0.0% (R) 0.1% 0.2%
2014-03-11 09:00 AM Italy
GDP Growth Rate QoQ Final
Q4 2013 0.1% -0.1% (R) 0.1% 0.1%
2014-05-15 09:00 AM Italy
GDP Growth Rate QoQ Adv
Q1 2014 0.1% 0.27%
2014-06-10 09:00 AM Italy
GDP Growth Rate QoQ Final
Q1 2014 0.1% 0.27%

GDP Last Previous Highest Lowest Forecast Unit
GDP Constant Prices 341064.20 2013-11-15 340202.00 374371.90 294839.30 339097.87 2014-03-31 EUR Million [+]
Gross Fixed Capital Formation 58470.20 2013-11-15 57972.20 79634.80 52865.10 57566.26 2014-03-31 EUR Million [+]
GDP per capita 28374.76 2012-12-31 29156.29 31263.50 9009.41 27406.38 2014-06-30 USD [+]
GDP per capita PPP 26327.59 2012-12-31 27052.74 29007.91 18814.44 25429.07 2014-06-30 USD [+]
GDP Growth Rate 0.10 2013-12-31 -0.10 6.00 -3.50 0.27 2014-03-31 Percent [+]
GDP Annual Growth Rate -0.90 2013-12-31 -1.90 10.30 -6.90 -0.75 2014-03-31 Percent [+]
GDP 2013.30 2012-12-31 2192.40 2307.30 40.40 1872.22 2014-06-30 USD Billion [+]

Italian GDP Growth Confirmed in Q4

Italian economy returned to growth in the last three months of 2013. Final estimates confirmed the GDP advanced 0.1 percent on a quarter-on-quarter basis, driven by exports and a marginal recovery in investments.

Compared to the third quarter of 2013, final consumption expenditure was unchanged, gross fixed capital formation increased by 0.9 percent, imports by 0.2 percent and exports by 1.2 percent.

Domestic demand excluding inventories contributed 0.1 percentage points to the GDP growth: there was no contribution from household consumption and government expenditure but gross fixed investment was positive at 0.1 percent. Changes in inventories had a negative contribution (-0.4 percentage points), while net foreign demand made a positive contribution of 0.3 percentage points.

On the production side, agricultural output expanded 0.8 percent and industrial production excluding construction increased 0.1 percent. Services showed no growth and construction contracted 0.7 percent.  

With respect to the fourth quarter of 2012, the GDP growth was revised down to - 0.9 percent versus a preliminary 0.8 percent contraction. Final consumption expenditure decreased by 1.1 percent, gross fixed capital formation by 2.4 percent and imports by 0.1 percent, while exports increased by 1.0 percent.

Considering full 2013, the economy shrank a revised 1.8 percent, up from a preliminary 1.9 percent decline. 

Istat | Joana Taborda |
3/11/2014 9:45:12 AM


Italian Economy Returns to Growth in Q4
Italian GDP advanced 0.1 percent on a quarter-on-quarter basis in the last three months of 2013. It was the first expansion since mid-2011, the preliminary estimates showed. Published on 2014-02-14

Italian Economy Stagnates in Q3
In the third quarter of 2013, Italy's GDP stagnated, ending eight straight quarters of contraction. Strong inventory accumulation led to an upward revision of the GDP, from a negative 0.1 percent growth for the three months ended in September. Published on 2013-12-10

GDP Growth Rate | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.


Italian Trade Surplus Widens in February  
The trade surplus increased to EUR 2.6 billion in February of 2014, from a revised EUR 0.36 billion in the previous month, as exports increased at a faster pace than imports. Compared with a year earlier, the trade surplus more than doubled from EUR 1.05 billion.
Italy Inflation Rate Confirmed at 0.4% in March  
Italian consumer prices slowed to 0.4 percent year-on-year in March of 2014, the lowest rate since October of 2009 and matching the initial estimates. On a monthly basis, the inflation rate accelerated to 0.1 percent, up from a 0.1 percent fall in February.
Italy Unemployment Rate Edges Up in February  
Italian seasonally adjusted jobless rate increased for the second consecutive month in February of 2014 to a new fresh high of 13.0 percent, up from 12.9 percent in the previous month, and 11.5 percent a year earlier. It is the highest level since records began.
Italy Inflation Rate Down to 4-1/2-Year Low  
In March of 2014, annual consumer prices are expected to slow to 0.4 percent, down from 0.5 percent in the previous month and reaching the lowest rate since October of 2009. The slowdown was mainly due to a fall in prices of energy products and unprocessed food.
Italy Posts Trade Surplus in January  
Italy’s trade balance turned into a € 365 million surplus in January of 2014 compared with a € 1810 million deficit in the same period last year, as imports fell and exports rose slightly. Compared with the previous month, the trade surplus narrowed 89 percent.
Italy Inflation Confirmed at 0.5% in February  
Italian inflation rate rose at its lowest pace in four years of 0.5 percent in February of 2014, confirming the preliminary estimates. The slowdown was mainly due to volatile components, such as unprocessed food and energy.
Italian GDP Growth Confirmed in Q4  
Italian economy returned to growth in the last three months of 2013. Final estimates confirmed the GDP advanced 0.1 percent on a quarter-on-quarter basis, driven by exports and a marginal recovery in investments.
Italy’s Unemployment Rate Up to New Record High  
In January of 2014, Italian jobless rate rose to a new record high of 12.9 percent, up from 12.7 percent in the last month of 2013. The January rate is the highest since the data series began in 1977.
Italian Inflation Falls to 4-Year-Low of 0.5% in February  
In February, Italy's consumer price index rose by 0.5 percent with respect to February of 2013, its slowest pace since October of 2009. The slowdown was mainly driven by lower prices of energy and fresh food.
Italy’s Inflation Confirmed at 0.7% in January  
In January of 2014, the Italian consumer price index rose by 0.2 percent compared with the previous month and by 0.7 percent with respect to January of 2013, the same annual rate of December. Final data confirms the provisional estimates.


Tokyo Core CPI At 22- Year High in April  
Core consumer prices in Tokyo, a leading indicator of nationwide inflation, rose 2.7 percent in April from a year earlier, the fastest gain since 1992 as an increase in sales tax drove up cost of goods and services.
US Durable Goods Orders Surge in March  
New orders for manufactured durable goods in March increased $6.0 billion or 2.6 percent to $234.8 billion. This increase, up two consecutive months, followed a 2.1 percent February increase.
US Jobless Claims Rise in Latest Week  
In the week ending April 19, the advance figure for seasonally adjusted initial claims was 329,000, an increase of 24,000 from the previous week's revised level. There were no special factors impacting this week's initial claims.
Central Bank of Turkey Leaves Main Rates on Hold  
The Monetary Policy Committee decided on April 24th, 2014, to leave the one-week repo rate on hold at 10.0 percent for the third straight meeting. The Central Bank said it will maintain the current policy stance until there is a significant improvement in the outlook for inflation.
Swiss Trade Surplus Narrows Further in March  
The trade surplus decreased 10.6 percent in March of 2014 from the previous month to CHF 2.1 billion as imports rose at a higher pace than exports. Compared with a year earlier, the trade balance increased by 17.2 percent, driven by stronger sales of pharmaceuticals and chemicals products, and machinery to Europe and China.
Polish Unemployment Rate Falls in March  
Poland’s jobless rate dropped for the second straight month in March of 2014 to 13.5 percent, down from 13.9 percent in February and below market forecasts. A year earlier, unemployment was recorded at 14.3 percent.
South Korean Economy Expands at a Fastest Pace  
In the first quarter of 2014, South Korea’s GDP accelerated for the fourth straight quarter to an annual 3.9 percent growth rate, driven by exports.
South Korea GDP Growth Beats Expectations in Q1  
South Korean GDP expanded a seasonally adjusted 0.9 percent on quarter in the first three months of 2014, the same rate recorded in the previous quarter and above market expectations.
Reserve Bank of New Zealand Increases Interest Rate to 3.0%  
At its April 23rd, 2014 meeting, the Reserve Bank of New Zealand lifted the benchmark interest rate for the second straight meeting by 25 bps to 3.0 percent, as inflationary pressures were increasing and were expected to continue doing so over the next two years.
US New Home Sales Fall Sharply in March  
Sales of new single-family houses dropped 14.5 percent in March of 2014 to their lowest level in eight months. Sales were recorded at a seasonally adjusted annual rate of 384,000, below the revised February rate of 449,000.

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