Italy's gross domestic product grew 0.1% on quarter in the first three months of 2021, compared with preliminary estimates of a 0.4% contraction and following a 1.8% drop in the previous period. Gross fixed capital formation advanced 3.7%, accelerating from a 0.4% rise in Q4, in particular dwellings (4.8% vs -1.6%), machinery and equipment and weapon systems (3.5% vs 2.3%) and other buildings and structures (5.2% vs -0.6%). Also, household consumption decreased 1.2%, after a 2.7% drop. Meantime, government expenditure declined (-0.2% vs 1.6%), and net trade contributed negatively to growth, as export went down 0.1% while imports rose 2.3%. On the production side, main sources of growth were industry (1.8% vs -0.3%); and agriculture, forestry & fishing (3.9% vs -2.5%). On the other hand, services output continued to drop (-0.4% vs -2.2%). Year-on-year, the economy shrank 0.8%, less than earlier estimates of a 1.4% contraction. source: National Institute of Statistics (ISTAT)

GDP Growth Rate in Italy averaged 0.55 percent from 1960 until 2021, reaching an all time high of 15.90 percent in the third quarter of 2020 and a record low of -13 percent in the second 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 July of 2021.

GDP Growth Rate in Italy is expected to be 0.70 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 0.70 in 12 months time. In the long-term, the Italy GDP Growth Rate is projected to trend around 0.60 percent in 2022 and 0.40 percent in 2023, according to our econometric models.

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Italy GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.10 -1.80 15.90 -12.90 1960 - 2021 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2021-02-02 09:00 AM QoQ Adv Q4 -2% 16% -2.2% -2.3%
2021-03-03 09:00 AM QoQ Final Q4 -1.9% 15.9% -2% -2%
2021-04-30 08:00 AM QoQ Adv Q1 -0.4% -1.8% -0.5% -0.2%
2021-06-01 09:00 AM QoQ Final Q1 0.1% -1.8% -0.4% -0.4%
2021-07-30 08:00 AM QoQ Adv Q2 0.1% 1.4% 1.2%
2021-08-31 08:00 AM QoQ Final Q2 0.1%
2021-10-29 08:00 AM QoQ Adv Q3 3.2%
2021-11-30 09:00 AM QoQ Final Q3


News Stream
Italian Economy Unexpectedly Grows in Q1
Italy's gross domestic product expanded 0.1% on quarter in the first three months of 2021, compared with preliminary estimates of a 0.4% contraction and following a 1.8% drop in the previous period. Gross fixed capital formation advanced 3.7%, accelerating from a 0.4% rise in Q4, in particular, dwellings (4.8% vs -1.6%), machinery and equipment and weapon systems (3.5% vs 2.3%) and other buildings and structures (5.2% vs -0.6%). Also, household consumption decreased less by 1.2%, after a 2.7% drop. Meantime, government expenditure declined (-0.2% vs 1.6%), and net trade contributed negatively to growth, as export went down 0.1% while imports rose 2.3%. On the production side, main sources of growth were industry (1.8% vs -0.3%); and agriculture, forestry & fishing (3.9% vs -2.5%). On the other hand, services output continued to drop (-0.4% vs -2.2%). Year-on-year, the economy shrank 0.8%, less than earlier estimates of a 1.4% contraction.
2021-06-01
Italy Q1 GDP Shrinks Less than Expected
Italy's gross domestic product shrank 0.4 percent on quarter in the first three months of 2021, following a downwardly revised 1.8 percent contraction in the previous period and compared to market consensus of a 0.5 percent fall, a preliminary estimate showed. The services sector contracted after another wave of coronavirus cases led to the imposition of more restrictions on business during the first quarter of the year. Meantime, both industry and agriculture showed growth. On the expenditure side, exports were a drag on overall GDP while domestic demand increase. However, the second quarter looks like it will be brighter as the government eased curbs over much of the country from the start of this month as new infections gradually declined. Prime Minister Mario Draghi's government forecasts the economy to grow 4.5% this year while warning that the outlook remains highly uncertain depending on the development of the Covid-19 disease.
2021-04-30
Italy Q4 GDP Contracts Less than Initially Thought
Italy's gross domestic product shrank 1.9 percent on quarter in the three months to December 2020, less than preliminary estimates of a 2 percent contraction and after a record growth of 15.9 percent in Q3. Consumer spending fell 2.7 percent while government spending rose 1.5 percent and investments edged up 0.2 percent. Net foreign demand contributed negatively to growth, as exports increased 1.3 percent while imports rose at a faster 5.4 percent. On the production side, contractions were seen in all main industries: agriculture, forestry and fishing (-2.8 percent), industry (-0.7 percent) and services (-2.3 percent). Year-on-year, the GDP shrank 6.6 percent, following a 5.2 percent slump in the third quarter and in line with earlier estimates. Considering full 2020, the economy contracted by 8.9 percent, the steepest contraction since World War II.
2021-03-03
Italy Q4 GDP Shrinks Less than Expected
Italy's gross domestic product shrank 2 percent on quarter in the three months to December 2020, after a record growth of 16 percent in Q3 and compared with market consensus of a 2.2 percent contraction amid new COVID-19 related curbs on businesses and freedom of movement. Value-added declined in all main economic sectors: agriculture, forestry and fishing, industry and services. On the demand side, domestics demand and trade flows both contributed negatively to GDP. Year-on-year, the GDP shrank 6.6 percent, following a 5.1 percent slump in the third quarter. For full 2020, the economy contracted 8.8 percent, the most since World War II but less than the 9 percent contraction forecast by the Italian government.
2021-02-02

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.