Italy’s GDP shrank 5.3 percent on quarter in the three months to March of 2020, down from earlier estimates of a 4.7 percent drop as the country was the epicenter of the coronavirus pandemic during March. It follows a downwardly revised 0.2 percent contraction in the previous period, entering recession. It was the steepest contraction since comparable records began in 1995. Year-on-year, the economy contracted 5.4 percent, more than preliminary estimates of 4.8 percent decline and following a 0.1 percent expansion at the end of 2019.
GDP Growth Rate in Italy averaged 0.56 percent from 1960 until 2020, reaching an all time high of 6 percent in the first quarter of 1970 and a record low of -5.30 percent in the first quarter of 2020. This page provides - Italy GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Italy GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2020. source: National Institute of Statistics (ISTAT)
GDP Growth Rate in Italy is expected to be -13.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Italy to stand at 2.90 in 12 months time. In the long-term, the Italy GDP Growth Rate is projected to trend around 1.60 percent in 2021 and 0.60 percent in 2022, according to our econometric models.