Markets Actual Q2 Q3 Q4 Q1 2022
Currency 1.21 1.21 1.2 1.2 1.19 1.18
Stock Market (points) 24446.76 23530 22939 22365 21802 20678
Government Bond 10Y (%) 1.01 1.04 1.1 1.16 1.22 1.35
2 Year Note Yield (%) -0.26 0.03 0.06 0.1 0.14 0.21

Overview Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) -0.40 1.5 2.3 1.2 0.7 0.6
GDP Annual Growth Rate (%) -1.40 14.2 3.5 2.9 3.6 3.8
Unemployment Rate (%) 10.10 12 11.4 11.1 10.5 9.9
Inflation Rate (%) 1.10 0.6 0.8 1.1 1.2 1.4
Inflation Rate Mom (%) 0.40 0.3 0.4 0.2 0.3 0.5
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) 4753.87 4160 4200 3900 9800 9100
Current Account (EUR Million) 3737.40 2400 1980 1910 1680 1750
Current Account to GDP (%) 3.60 3.2 3.2 3.2 2.8 2.8
Government Debt to GDP (%) 155.80 158 158 158 155 155
Government Budget (% of GDP) -9.50 -12 -12 -12 -6 -6
Business Confidence (points) 105.40 105 108 104 102 102
Manufacturing PMI (points) 60.70 53 52.4 54 54.5 55
Services PMI (points) 47.30 52.9 52.5 52.9 53.6 55
Consumer Confidence (points) 102.30 108 107 105 106 105
Retail Sales MoM (%) -0.10 0.9 -1 0.6 0.9 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 2022
GDP Growth Rate (%) -0.40 1.5 2.3 1.2 0.7 0.6
GDP Annual Growth Rate (%) -1.40 14.2 3.5 2.9 3.6 3.8
GDP (USD Billion) 2001.24 1920 1920 1920 2000 2000
GDP Constant Prices (EUR Million) 400346.60 403756 424019 413429 416241 429139
Gross Fixed Capital Formation (EUR Million) 76892.00 67901 79454 79122 79660 82128
GDP per capita (USD) 35613.80 34600 34600 34600 35200 35200
GDP per capita PPP (USD) 42412.70 40600 40600 40600 41200 41200
GDP From Agriculture (EUR Million) 7564.00 8779 8054 7783 7836 8079
GDP From Construction (EUR Million) 17220.00 14167 18281 17719 17840 18393
GDP From Manufacturing (EUR Million) 72128.00 63836 74847 74220 74725 77040
GDP From Services (EUR Million) 265662.00 276331 281491 273366 275226 283754

Labour Actual Q2 Q3 Q4 Q1 2022
Unemployment Rate (%) 10.10 12 11.4 11.1 10.5 9.9
Employed Persons (Thousand ) 22245.88 22200 21500 21700 22100 22700
Unemployed Persons (Thousand ) 2494.75 2700 2750 2690 2610 2510
Employment Rate (%) 56.60 56.9 57.1 57.4 58 58.4
Labor Force Participation Rate (%) 63.00 63.2 63.6 64 64.2 64.8
Long Term Unemployment Rate (%) 5.10 6.9 6.3 6 5.4 5.4
Youth Unemployment Rate (%) 33.00 33.4 32.8 32.5 31.9 31.9
Labour Costs (points) 108.70 115 120 115 110 111
Wages (EUR/Month) 2502.00 2522 2520 2580 2530 2565
Wages in Manufacturing (points) 103.80 104 104 121 105 106
Wage Growth (%) 0.60 0.7 0.9 1.1 1.2 1.4
Population (Million) 59.64 59.4 59.4 59.4 59.1 59.1
Retirement Age Women 67.25 67.25 67.25 67.25 67.25 67.25
Retirement Age Men 67.25 67.25 67.25 67.25 67.25 67.25
Employment Change (%) 0.30 0.4 0.3 0.5 0.6 0.4

Prices Actual Q2 Q3 Q4 Q1 2022
Inflation Rate (%) 1.10 0.6 0.8 1.1 1.2 1.4
Inflation Rate Mom (%) 0.40 0.3 0.4 0.2 0.3 0.5
Harmonised Consumer Prices (points) 105.10 1.2 107 109 109 109
Consumer Price Index CPI (points) 104.10 104 103 104 105 105
Core Consumer Prices (points) 103.60 103 104 105 104 105
Core Inflation Rate (%) 0.30 0.7 1 1.1 1.2 1.4
GDP Deflator (points) 105.70 106 105 107 107 108
Producer Prices (points) 103.90 99.79 101 112 104 104
Producer Prices Change (%) 2.70 0.8 0.9 1.2 1.4 1.6
Food Inflation (%) -0.20 0.8 1.4 1.2 1.5 1.7
CPI Housing Utilities (points) 103.90 99.39 99.09 103 104 104
CPI Transportation (points) 106.60 104 103 104 108 105

Money Actual Q2 Q3 Q4 Q1 2022
Interest Rate (%) 0.00 0 0 0 0 0
Interbank Rate (%) -0.54 -0.54 -0.54 -0.54 -0.54 -0.54
Money Supply M2 (EUR Million) 1817397.00 1850000 1910000 1890000 1940000 1990000
Banks Balance Sheet (EUR Million) 3854770.93 3980000 3970000 4030000 4080000 4150000
Loans to Private Sector (EUR Million) 668289.00 678000 679000 685000 684000 691000
Private Debt to GDP (%) 161.60 177 177 177 175 175
Central Bank Balance Sheet (EUR Million) 1456235.30 1364000 1421000 1441000 1451000 1481000

Trade Actual Q2 Q3 Q4 Q1 2022
Balance of Trade (EUR Million) 4753.87 4160 4200 3900 9800 9100
Current Account (EUR Million) 3737.40 2400 1980 1910 1680 1750
Current Account to GDP (%) 3.60 3.2 3.2 3.2 2.8 2.8
Imports (EUR Million) 33687.13 27200 34400 32600 30900 37100
Exports (EUR Million) 38440.99 31400 40500 42400 34800 46200
External Debt (EUR Million) 2324324.00 2380000 2400000 2410000 2420000 2450000
Capital Flows (EUR Million) 7324.70 2420 2500 2980 1850 3020
Gold Reserves (Tonnes) 2451.84 2452 2452 2452 2452 2452
Tourism Revenues (EUR Million) 340.43 2720 3200 1900 1720 2300
Crude Oil Production (BBL/D/1K) 117.00 70 70 70 70 70
Foreign Direct Investment (EUR Million) 2810.00 1500 3650 980 2420 510

Government Actual Q2 Q3 Q4 Q1 2022
Government Debt to GDP (%) 155.80 158 158 158 155 155
Government Budget (% of GDP) -9.50 -12 -12 -12 -6 -6
Government Budget Value (EUR Billion) -38.03 -61 -34 -5.9 -41 -23
Government Spending (EUR Million) 81502.00 89200 88700 89000 84200 81900
Government Spending to GDP (%) 48.70 52 52 52 48 48
Government Revenues (EUR Billion) 31.55 28 27 89 37 96
Government Debt (EUR Million) 2643799.30 2621000 2628000 2634000 2645000 2674000
Fiscal Expenditure (EUR Billion) 69.58 62 56 130 84 119

Taxes Actual Q2 Q3 Q4 Q1 2022
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 22 22 22 22
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 2022
Business Confidence (points) 105.40 105 108 104 102 102
Manufacturing PMI (points) 60.70 53 52.4 54 54.5 55
Services PMI (points) 47.30 52.9 52.5 52.9 53.6 55
Industrial Production (%) 37.70 25 11 4.6 3.2 3.4
Industrial Production Mom (%) -0.10 0.6 -1.2 0.6 0.8 0.5
Manufacturing Production (%) -3.00 27 12 5 3.4 3.8
Capacity Utilization (%) 75.30 69 70 72 74 75
Zew Economic Sentiment Index 59.70 38 15 20 12 11
Car Registrations 145033.00 125000 151000 122000 75200 145000
Mining Production (%) 0.70 20 10 4.5 3.4 3.2
Bankruptcies (Companies) 2902.00 3700 3200 3600 3200 3200
Composite PMI (points) 51.20 53.4 52.8 53.4 54.1 55.1

Consumer Actual Q2 Q3 Q4 Q1 2022
Consumer Confidence (points) 102.30 108 107 105 106 105
Retail Sales MoM (%) -0.10 0.9 -1 0.6 0.9 0.5
Retail Sales YoY (%) 22.90 10.5 3 5.6 3.8 3.2
Consumer Spending (EUR Million) 235641.00 244362 250706 242475 244124 251689
Disposable Personal Income (EUR Million) 289184.00 313339 306290 297570 299595 308878
Personal Savings (%) 15.20 13.6 13 12.8 12.6 12
Households Debt To GDP (% of GDP) 44.40 49 49 49 47 47
Households Debt To Income (%) 61.56 70 70 70 66 66
Bank Lending Rate (%) 1.79 1.78 1.78 1.78 1.78 1.78
Consumer Credit (EUR Million) 109470.92 124002 113003 113247 113412 117551
Gasoline Prices (USD/Liter) 2.05 1.82 1.73 1.59 1.56 1.49

Housing Actual Q2 Q3 Q4 Q1 2022
Construction Output (%) 3.50 37.6 10.5 5.6 3.2 2.7
Housing Index (points) 100.10 99 100 102 101 105
Home Ownership Rate (%) 72.40 70 70 70 67 67
Construction PMI (points) 57.60 54 53.2 52 52.7 53.8


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.