Italy’s gross domestic product expanded by 0.2% from the previous quarter in the three months ending in June of 2024, moderating from the 0.3% expansion in the first quarter, and in line with market expectations of a 0.2% growth rate, according to a flash estimate. The domestic component of the GDP was positive for growth, led by a significant inventory build. On the other hand, net exports contributed negatively to the GDP. Annually, the Italian GDP expanded by 0.9% in the second quarter, picking up from the revised 0.6% expansion in the first quarter. source: National Institute of Statistics (ISTAT)
The Gross Domestic Product (GDP) in Italy expanded 0.20 percent in the second quarter of 2024 over the previous quarter. GDP Growth Rate in Italy averaged 0.57 percent from 1960 until 2024, reaching an all time high of 13.90 percent in the third quarter of 2020 and a record low of -11.80 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 August of 2024.
The Gross Domestic Product (GDP) in Italy expanded 0.20 percent in the second quarter of 2024 over the previous quarter. GDP Growth Rate in Italy is expected to be 0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Italy GDP Growth Rate is projected to trend around 0.40 percent in 2025 and 0.30 percent in 2026, according to our econometric models.
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.
| Actual | Previous | Highest | Lowest | Dates | Unit | Frequency | ||
|---|---|---|---|---|---|---|---|---|
| 0.20 | 0.30 | 13.90 | -11.80 | 1960 - 2024 | percent | Quarterly | SA |
News Stream
Italian GDP Growth Slows as Expected
Italy’s gross domestic product expanded by 0.2% from the previous quarter in the three months ending in June of 2024, moderating from the 0.3% expansion in the first quarter, and in line with market expectations of a 0.2% growth rate, according to a flash estimate. The domestic component of the GDP was positive for growth, led by a significant inventory build. On the other hand, net exports contributed negatively to the GDP. Annually, the Italian GDP expanded by 0.9% in the second quarter, picking up from the revised 0.6% expansion in the first quarter.
2024-07-30
Italian GDP Growth Confirmed at 0.3% in Q1
Italy’s gross domestic product expanded by 0.3% from the previous quarter in the three months ending March of 2024, accelerating from the 0.1% growth rate in the final quarter of 2023, aligning with the preliminary estimate and ahead of earlier market expectations of a 0.1% expansion. It underscored some traction in the Italian economy, aligning with similar developments in multiple Eurozone members as economies in the continent benefited from the gradual normalization of energy prices and adapted to higher interest rates by the ECB. Consumption grew by 0.2% in the first quarter, supported by a 0.3% rise in household consumption, while government spending edged 0.1% higher. In the meantime, gross fixed capital formation rose by 0.5% from the earlier period, with dwellings (1.5%) and buildings (2.2%) growth offsetting a contraction for machinery (-1.5%). In the meantime, net foreign demand contributed positively to the GDP as exports grew by 0.6% and imports sank by 1.7%.
2024-05-31
Italy GDP Expands More than Expected
Italy’s gross domestic product expanded by 0.3% from the previous quarter in the three months ending March of 2024, accelerating from downwardly revised 0.1% growth in the final quarter of 2023, and surpassing market expectations of a marginal 0.1% expansion. The result was consistent with stronger-than-expected growth in other major economies for the Eurozone, adding leeway for the European Central Bank to refrain from delivering a large extent of rate cuts should inflationary pressures develop in a more stubborn trend. The expansion was driven by a sharp increase in net exports, offsetting a negative change in inventories. From the previous year, the Italian GDP expanded by 0.6% in the first quarter.
2024-04-30
