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.

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Italy GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-5.30 -0.20 6.00 -5.30 1960 - 2020 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-01-31 09:00 AM QoQ Adv Q4 -0.3% 0.1% 0.1% 0.1%
2020-03-04 09:00 AM QoQ Final Q4 -0.3% 0.1% -0.3% -0.3%
2020-04-30 10:00 AM QoQ Adv Q1 -4.7% -0.3% -5% -5.4%
2020-05-29 08:00 AM QoQ Final Q1 -5.3% -0.2% -4.7% -4.7%
2020-07-31 08:00 AM QoQ Adv Q2 -13.2%
2020-08-31 08:00 AM QoQ Final Q2 -13.2%
2020-10-30 11:00 AM QoQ Adv Q3 7.5%
2020-12-01 09:00 AM QoQ Final Q3 7.5%


News Stream
Italy Q1 GDP Contracts More than Expected
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.
2020-05-29
Italy Q1 GDP Contracts at Record Pace
Italy’s GDP shrank 4.7 percent on quarter in the three months to March of 200, following a 0.3 percent contraction in the previous month and entering a recession, preliminary estimates showed. It was the steepest contraction since comparable records began in 1995 and compared to market expectations of a 5 percent decline, as the country was severely hurt by the coronavirus pandemic during March. On the production side, contractions were seen in all main industries: agriculture, forestry and fishing, industry and services. From the demand side, both the domestic and external demand contributed negatively to the GDP. Year-on-year, the economy contracted 4.8 percent, the most since Q3 2009 and following a 0.1 percent expansion at the end of 2019.
2020-04-30
Italy Q4 GDP Contraction Confirmed
Italy’s GDP shrank 0.3 percent on quarter in the three months to December 2019, compared to a 0.1 percent growth in the previous period and in line with a preliminary reading, final estimates showed. It was the steepest contraction since Q1 2013, due to declines in household consumption (-0.2 percent vs 0.2 percent in Q3); gross fixed capital formation (-0.1 percent vs a flat reading) and government expenditure (-0.1 percent, the same as in Q3). On the other hand, net trade contributed positively to growth, with imports falling 1.7 percent (vs 1.1 percent) while exports edged up 0.3 percent (vs -0.2 percent). Year-on-year, the economy expanded 0.1 percent, slowing from a 0.5 percent advance in Q3 and compared to an early estimate of stagnation. Considering full 2019, GDP grew 0.3 percent, the least since 2014 but slightly better than government's forecast of 0.1%.
2020-03-04
Italian GDP Contracts The Most in 7 Years
Italy’s GDP shrank 0.3 percent on quarter in the three months to December 2019, compared to a 0.1 percent growth in the previous period and missing market expectations of a 0.1 percent expansion, preliminary estimates showed. It was the steepest contraction since Q1 2013, as a decline in gross inventories more than offset a positive contribution from net trade. On the production side, both agriculture, forestry and fishing and industry contracted while services stagnated. Economy Minister Roberto Gualtieri said that Q4 GDP was affected by outside factors including weather in November. Year-on-year, the economy stalled, after an upwardly revised 0.5 percent advance in Q3 and compared to market expectations of a 0.3 percent growth. Considering full 2019, GDP grew 0.2 percent, slowing from a 0.8 percent expansion in 2018 but slightly better than government's forecast of 0.1%.
2020-01-31

Italy GDP Growth Rate
Italy is the ninth 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. Composition of the GDP on the expenditure side: household consumption (61 percent), government expenditure (19 percent) and gross fixed capital formation (17 percent). Exports of goods and services account for 30 percent of GDP while imports for 27 percent, adding 3 percent to total GDP.