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.