Italy GDP Growth Revised Down to 0.4% in Q3

The Italian economy expanded 0.4 percent on quarter in the three months to September of 2017, below a preliminary estimate of 0.5 percent but above a 0.3 percent growth in the previous period. Gross fixed investment made the largest contribution to growth, followed by household consumption and net trade.

Gross fixed capital formation jumped 3 percent, following a 1.1 percent rise in the previous period, mainly boosted by a 6 percent surge in investment in machinery and equipment (1.3 percent in Q2) and a recovery in construction (0.3 percent compared to -0.3 percent). On the other hand, investment in transport equipment slowed (1.9 percent compared to 9.8 percent). 

Household spending also went up faster (0.3 percent compared to 0.2 percent in the previous period) while government expenditure edged up a meager 0.1 percent (0.2 percent in the previous period). 

Exports of goods accelerated (1.6 percent compared to 0.1 percent) and imports rose at a slower 1.2 percent (1.6 percent). 

Year-on-year, the economy expanded 1.7 percent, lower than a preliminary reading of 1.8 percent but above 1.5 percent in the previous period. It remained the fastest growth rate since the first quarter of 2011. The government forecasts 2017 growth at 1.5 percent which would be the strongest rate since 2010.

Italy GDP Growth Revised Down to 0.4% in Q3

Istat | Joana Taborda |
12/1/2017 11:07:28 AM