Italy’s economy shrank by 8.9 percent in 2020, more than preliminary estimates of an 8.8 percent drop and following a 0.3 percent expansion in 2019, as the country was severely hit by the coronavirus pandemic. It was the steepest contraction since World War II but less than the 9 percent contraction forecast by the Italian government. Preliminary estimates in February showed Italy’s GDP contracted by 6.6 percent from a year earlier in the fourth quarter of 2020, after a 5.1 percent fall in Q3. source: National Institute of Statistics (ISTAT)
GDP Annual Growth Rate in Italy averaged 2.20 percent from 1961 until 2020, reaching an all time high of 10.30 percent in the fourth quarter of 1961 and a record low of -18 percent in the second quarter of 2020. This page provides the latest reported value for - Italy GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Italy GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2021.
GDP Annual Growth Rate in Italy is expected to be -2.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Italy to stand at 2.90 in 12 months time. In the long-term, the Italy GDP Annual Growth Rate is projected to trend around 2.00 percent in 2022, according to our econometric models.