Italy GDP Growth Rate
The Gross Domestic Product (GDP) in Italy contracted 0.10 percent in the first quarter of 2014 over the previous quarter. GDP Growth Rate in Italy averaged 0.62 Percent from 1960 until 2014, 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. GDP Growth Rate in Italy is reported by the National Institute of Statistics (ISTAT).
||1960 - 2014
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.