Italy's gross domestic product grew by a record 15.9 percent on quarter in the three months to September 2020, rebounding from an unprecedented contraction of 13 percent in the previous period but below preliminary estimates of a 16.1 percent expansion. Household consumption (12.4 percent vs -11.5 percent in Q2) and gross fixed capital formation (31.3 percent vs -17 percent) rebounded and government expenditure advanced faster (0.7 percent vs 0.3 percent). Also, foreign demand contributed positively to growth, as exports climbed 30.7 percent (vs -23.9 percent in Q2) while imports went up at a softer 15.9 percent (vs -17.8 percent in Q2). Year-on-year, the GDP shrank 5 percent, easing from an 18 percent slump in the second quarter and compared to earlier estimates of a 4.7 percent fall. source: National Institute of Statistics (ISTAT)

GDP Growth Rate in Italy averaged 0.57 percent from 1960 until 2020, 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 December of 2020.

GDP Growth Rate in Italy is expected to be -2.80 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 1.40 in 12 months time. In the long-term, the Italy GDP Growth Rate is projected to trend around 1.20 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
15.90 -13.00 15.90 -13.00 1960 - 2020 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-07-31 08:00 AM QoQ Adv Q2 -12.4% -5.4% -15% -13.2%
2020-08-31 08:00 AM QoQ Final Q2 -12.8% -5.5% -12.4% -12.4%
2020-10-30 09:00 AM QoQ Adv Q3 16.1% -13% 11.2% 10.5%
2020-12-01 09:00 AM QoQ Final Q3 15.9% -13% 16.1% 16.1%
2021-02-01 09:00 AM QoQ Adv Q4 15.9%
2021-03-04 09:00 AM QoQ Final Q4 15.9%
2021-04-30 10:00 AM QoQ Adv Q1
2021-05-28 08:00 AM QoQ Final Q1


News Stream
Italy Q3 GDP Record Expansion Revised Lower
Italy's gross domestic product grew by a record 15.9 percent on quarter in the three months to September 2020, rebounding from an unprecedented contraction of 13 percent in the previous period but below preliminary estimates of a 16.1 percent expansion. Household consumption (12.4 percent vs -11.5 percent in Q2) and gross fixed capital formation (31.3 percent vs -17 percent) rebounded and government expenditure advanced faster (0.7 percent vs 0.3 percent). Also, foreign demand contributed positively to growth, as exports climbed 30.7 percent (vs -23.9 percent in Q2) while imports went up at a softer 15.9 percent (vs -17.8 percent in Q2). Year-on-year, the GDP shrank 5 percent, easing from an 18 percent slump in the second quarter and compared to earlier estimates of a 4.7 percent fall.
2020-12-01
Italian Economy Rebounds More than Expected
Italy's gross domestic product grew by a record 16.1 percent in the three months to September 2020, rebounding from an unprecedented contraction of 13 percent in the previous period and beating market consensus of 11.2 percent, a preliminary estimate showed. Growth was broad-based, with industry, services and agriculture all showing a rise in output. Year-on-year, the GDP shrank 4.7 percent, following a downwardly revised 17.9 percent contraction in the second quarter. Rome had expected growth to continue in the fourth quarter but this is now threatened by a resurgence of the coronavirus which has forced the government to impose new restrictions on business. ISTAT said that if GDP were to be flat quarter-on-quarter in the final three months of the year, full-year GDP would be down 8.2% compared with 2019.
2020-10-30
Italy GDP Contraction Revised Higher
Italy's GDP shrank by 12.8 percent on quarter in the three months to June 2020, compared to a preliminary reading of a 12.4 percent plunge and following a revised 5.5 percent contraction in the previous period. That was the steepest pace of contraction since comparable series began in the 1960s as the country was one of the hardest hit by the coronavirus pandemic. The government was forced to introduce rigid restriction measures from March 9th, which were only gradually eased from May 4th. Both consumer spending (-6.7 percent vs -4 percent in Q1) and gross fixed capital formation (-2.6 percent vs -1.4 percent) declined at a faster pace, while government expenditure went down 0.2 percent, the same as in the prior period. Also, external demand contributed negatively to the GDP (-2.4 percent). Year-on-year, the economy contracted a record 17.7 percent, entering a steep recession.
2020-08-31
Italy Posts Unprecedented GDP Slump in Q2
Italy's gross domestic product shrank by 12.4 percent on quarter in the three months to June 2020, following a revised 5.4 percent contraction in the previous period and compared to market expectations of a 15 percent fall, a preliminary estimate showed. That was the steepest pace of contraction since comparable series began in the 1960s as the country was one of the hardest hit by the coronavirus pandemic. The government was forced to introduce rigid restriction measures from March 9th, which were only gradually eased from May 4th.
2020-07-31

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.