Markets Actual Q2 Q3 Q4 Q1 2021
Currency 1.13 1.12 1.11 1.11 1.11 1.1
Stock Market (points) 19652.00 19042 18563 18098 17643 16733
Government Bond 10Y (%) 1.41 1.64 1.73 1.82 1.92 2.12
2 Year Note Yield (%) 0.24 0.37 0.41 0.45 0.49 0.58

Overview Actual Q2 Q3 Q4 Q1 2021
GDP Growth Rate (%) -5.30 -13.2 7.5 4.4 2.9 1.6
GDP Annual Growth Rate (%) -5.40 -18 -10.3 -4 1 2.9
Unemployment Rate (%) 6.30 10 12 12.5 12.1 11.1
Inflation Rate (%) -0.10 -0.6 -0.7 -0.4 -0.1 1.1
Inflation Rate Mom (%) -0.10 0.3 -0.4 0.5 -0.3 0.5
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) 5685.09 2840 3000 5400 4160 3900
Current Account (EUR Million) 4136.00 4220 2290 2210 1900 1910
Current Account to GDP (%) 3.00 3.4 3.4 3.4 3.2 3.2
Government Debt to GDP (%) 134.80 157 157 157 152 152
Government Budget (% of GDP) -1.60 -10.6 -10.6 -10.6 -5.8 -5.8
Business Confidence (points) 71.20 75 76 82 85 89
Manufacturing PMI (points) 45.40 40 47 49 51 54
Services PMI (points) 28.90 36 43 44 50 52.9
Consumer Confidence (points) 94.30 82 83 85 88 91
Retail Sales MoM (%) -20.50 -1 -0.4 0.9 1.1 0.5
Corporate Tax Rate (%) 24.00 24 24 24 24 24
Personal Income Tax Rate (%) 43.00 43 43 43 43 43

GDP Actual Q2 Q3 Q4 Q1 2021
GDP Growth Rate (%) -5.30 -13.2 7.5 4.4 2.9 1.6
GDP Annual Growth Rate (%) -5.40 -18 -10.3 -4 1 2.9
GDP (USD Billion) 2030.00 2050 2050 2050 2080 2080
GDP Constant Prices (EUR Million) 407308.20 405248 416549 412856 413908 424829
Gross Fixed Capital Formation (EUR Million) 71971.60 73934 75956 75401 79328 77588
GDP per capita (USD) 35391.70 35800 35800 35800 36400 36400
GDP per capita PPP (USD) 35739.00 33495 36400 36400 33495 33986
GDP From Agriculture (EUR Million) 8099.80 7722 7834 7901 8312 8130
GDP From Construction (EUR Million) 16110.00 16010 16539 16331 17181 16804
GDP From Manufacturing (EUR Million) 68823.10 71681 73521 72151 75909 74244
GDP From Services (EUR Million) 273297.00 269001 276514 274668 288974 282634

Labour Actual Q2 Q3 Q4 Q1 2021
Unemployment Rate (%) 6.30 10 12 12.5 12.1 11.1
Employed Persons (Thousand ) 22881.18 25400 25400 25900 25900 26700
Unemployed Persons (Thousand ) 1543.16 2550 2540 2500 2500 2450
Part Time Employment (Hundreds Person) 37249.12 42400 42400 43000 43000 44100
Full Time Employment (Hundreds Person) 143719.68 148400 148400 149000 149000 150000
Employment Rate (%) 57.90 59.5 59.6 59.6 59.6 59.8
Labor Force Participation Rate (%) 61.90 65.9 66 65.9 65.9 66
Long Term Unemployment Rate (%) 5.50 5.2 5.2 5.2 4.8 4.8
Youth Unemployment Rate (%) 20.30 20.3 20.3 20.3 19.9 19.4
Labour Costs (points) 109.90 113 112 113 113 115
Wages (EUR/Month) 2467.00 2502 2504 2509 2509 2554
Wages in Manufacturing (points) 102.90 104 104 105 105 106
Wage Growth (%) 0.60 1.4 1.5 1.7 1.7 1.8
Population (Million) 60.36 60.26 60.26 60.26 60.15 60.15
Retirement Age Women 67.00 67 67 67 67 67.25
Retirement Age Men 67.00 67 67 67 67 67.25
Living Wage Family (EUR/Month) 1440.00 1460 1462 1464 1464 1491
Living Wage Individual (EUR/Month) 935.00 948 949 951 951 968
Wages Low Skilled (EUR/Month) 1130.00 1146 1147 1149 1149 1170
Wages High Skilled (EUR/Month) 2340.00 2373 2375 2380 2380 2423
Employment Change (%) -0.10 0.3 0.2 0.4 0.4 0.3

Prices Actual Q2 Q3 Q4 Q1 2021
Inflation Rate (%) -0.10 -0.6 -0.7 -0.4 -0.1 1.1
Inflation Rate Mom (%) -0.10 0.3 -0.4 0.5 -0.3 0.5
Harmonised Consumer Prices (points) 103.90 105 105 107 107 109
Consumer Price Index CPI (points) 102.90 102 102 102 103 104
Core Consumer Prices (points) 103.30 104 104 103 104 105
Core Inflation Rate (%) 0.80 1 1.1 1.2 1.2 1.5
GDP Deflator (points) 104.38 103 103 104 104 105
Producer Prices (points) 98.60 105 104 110 103 112
Producer Prices Change (%) -5.10 0.9 1.1 1.4 1.4 1.7
Export Prices (points) 111.50 112 112 112 112 114
Import Prices (points) 104.40 112 112 113 113 113
Food Inflation (%) 2.70 1.5 1.6 1.8 1.8 2.1
CPI Housing Utilities (points) 98.80 103 102 103 103 104
CPI Transportation (points) 101.80 106 105 105 104 106

Money Actual Q2 Q3 Q4 Q1 2021
Interest Rate (%) 0.00 0 0 0 0 0
Interbank Rate (%) -0.27 -0.41 -0.41 -0.41 -0.41 -0.41
Money Supply M2 (EUR Million) 1663720.00 1790000 1840000 1920000 1920000 1920000
Banks Balance Sheet (EUR Million) 3809611.27 4080000 4170000 4220000 4220000 4220000
Loans to Private Sector (EUR Million) 650439.00 619250 625676 605993 641442 623567
Private Debt to GDP (%) 166.20 166 166 166 166 165
Central Bank Balance Sheet (EUR Million) 1121789.20 1211000 1259000 1321000 1321000 1371000

Trade Actual Q2 Q3 Q4 Q1 2021
Balance of Trade (EUR Million) 5685.09 2840 3000 5400 4160 3900
Current Account (EUR Million) 4136.00 4220 2290 2210 1900 1910
Current Account to GDP (%) 3.00 3.4 3.4 3.4 3.2 3.2
Imports (EUR Million) 30251.85 28060 28100 29500 32040 33600
Exports (EUR Million) 35936.93 30900 31100 30900 36200 34400
External Debt (EUR Million) 2229541.00 2290000 2300000 2320000 2320000 2380000
Terms of Trade (points) 106.80 100 100 99.12 99.12 99.13
Capital Flows (EUR Million) -5776.50 1640 1640 5210 5210 5010
Remittances (EUR Million) 129.63 165 165 155 155 151
Gold Reserves (Tonnes) 2451.80 2452 2452 2452 2452 2452
Tourism Revenues (EUR Million) 483.48 4650 5100 2500 2500 2700
Crude Oil Production (BBL/D/1K) 85.00 78 78 78 78 75
Foreign Direct Investment (EUR Million) -6480.00 -2870 -400 470 470 580

Government Actual Q2 Q3 Q4 Q1 2021
Government Debt to GDP (%) 134.80 157 157 157 152 152
Government Budget (% of GDP) -1.60 -10.6 -10.6 -10.6 -5.8 -5.8
Government Budget Value (EUR Billion) -48.99 9.7 -28.4 5.4 5.4 2.1
Government Spending (EUR Million) 79038.50 74609 76589 76054 80015 78260
Government Spending to GDP (%) 48.70 59 59 59 52 52
Government Revenues (EUR Billion) 30.19 44.4 40.1 104 104 107
Government Debt (EUR Million) 2431059.30 2512000 2544000 2594000 2594000 2654000
Fiscal Expenditure (EUR Billion) 79.18 34.7 68.5 99 99 105
Asylum Applications (persons) 2495.00 9400 9400 6820 6820 5920

Taxes Actual Q2 Q3 Q4 Q1 2021
Corporate Tax Rate (%) 24.00 24 24 24 24 24
Personal Income Tax Rate (%) 43.00 43 43 43 43 43
Sales Tax Rate (%) 22.00 25 25 25 25 25
Social Security Rate (%) 39.49 39.49 39.49 39.49 39.49 39.49
Social Security Rate For Companies (%) 30.00 30 30 30 30 30
Social Security Rate For Employees (%) 9.49 9.49 9.49 9.49 9.49 9.49

Business Actual Q2 Q3 Q4 Q1 2021
Business Confidence (points) 71.20 75 76 82 85 89
Manufacturing PMI (points) 45.40 40 47 49 51 54
Services PMI (points) 28.90 36 43 44 50 52.9
Industrial Production (%) -29.30 1.1 1.4 1.2 1.2 1.6
Industrial Production Mom (%) -28.40 -0.2 -0.3 0.2 0.2 0.3
Manufacturing Production (%) -31.20 0.9 1.2 1.1 1.1 1.5
Capacity Utilization (%) 76.80 78.5 78.5 78.6 78.6 78.7
New Orders (points) 87.30 123 123 119 119 120
Factory Orders (%) -26.50 0.8 1.2 0.2 0.2 0.3
Zew Economic Sentiment Index 38.70 -60 -48 -40 -36 -20
Car Registrations 4279.00 177000 105000 121000 121000 126000
Mining Production (%) -21.40 0.7 0.8 1 1 0.9
Steel Production (Thousand Tonnes) 1350.00 1980 2120 1660 1660 1710
Bankruptcies (Companies) 2844.00 3200 3200 3400 3400 3200
Composite Pmi (points) 33.90 37 44 45 50.4 53.4

Consumer Actual Q2 Q3 Q4 Q1 2021
Consumer Confidence (points) 94.30 82 83 85 88 91
Retail Sales MoM (%) -20.50 -1 -0.4 0.9 1.1 0.5
Retail Sales YoY (%) -18.40 -2.7 -1.6 -0.4 1.5 1.4
Consumer Spending (EUR Million) 245048.40 245994 253528 251506 264605 258800
Disposable Personal Income (EUR Million) 299377.00 279482 289574 287402 302371 295737
Personal Savings (%) 8.20 9 9.2 9.5 9.5 10
Households Debt To GDP (% of GDP) 40.50 34.3 34.3 34.3 34.3 34
Households Debt To Income (%) 60.95 58 58 58 58 56
Bank Lending Rate (%) 1.68 1.84 1.84 1.84 1.84 1.84
Consumer Credit (EUR Million) 110474.95 101177 105210 106601 112946 109692
Gasoline Prices (USD/Liter) 1.64 1.69 1.61 1.53 1.45 1.38

Housing Actual Q2 Q3 Q4 Q1 2021
Construction Output (%) -35.40 1.8 1.7 1.6 1.6 1.7
Housing Index (points) 98.60 101 102 104 104 106
Home Ownership Rate (%) 72.40 71 71 71 71 70
Construction Pmi (points) 51.00 38 46 49 51 52


This page has economic forecasts for Italy including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Italy economy.