Italy GDP Q3 2016

Italy

Italy: Economy accelerates in Q3

GDP in Italy grew 0.3% over the previous quarter in Q3 in seasonally- and working-day adjusted terms, according to an advance estimate released by the National Statistics Office (ISTAT) on 15 November. The result came in slightly above the flat result in Q2 and overshot the 0.2% expansion markets had expected. According to the press release, expansion in Q3 was the result of growth in value-added in both the industrial and the services sectors, while value-added in the agricultural sector dropped. As for the components, while domestic demand contributed positively to growth, the external sector’s net contribution to growth was negative. More detailed data will be released on 1 December.

In annual terms, GDP grew 0.9% in Q3, which represented an acceleration compared to the 0.7% rise observed in Q2 and marked the highest result since Q2 2011.

Commenting on the outlook, Loredana Federico, Lead Italy Economist at Unicredit Research, adds:

“Preliminary indications for 4Q16 suggest that today’s GDP increase may not last and that the pace of economic growth will slow down at year-end. Among other things, activity in the industrial sector is most likely to be curbed by bridge-day effects in November and December. Business surveys for October continue to suggest an expansion of both industrial and service activity, although at a much slower pace compared to key Eurozone peers. As no hard data is yet available for 4Q16, it is premature to say whether or not Italy will grow again in 4Q16.”

FocusEconomics Consensus Forecast panelists see the economy increasing 0.8% in 2016, which is unchanged from last month’s forecast. For 2017, panelists also expect the economy to expand 0.8%, which is also unchanged from last month’s projection.


Sample Report

Looking for forecasts related to GDP in Italy? Download a sample report now.

Download

Italy GDP Chart


Italy GDP Q3 2016

Note: Quarter-on-quarter changes of seasonally-adjusted GDP and year-on-year variation in %.
Source: National Statistics Institute and FocusEconomics Consensus Forecast.


Italy Economic News

  • Italy: Economy decelerates slightly in Q4

    February 15, 2017

    Italian GDP grew 0.2% over the previous quarter in Q4 in seasonally- and working-day adjusted terms, according to an advance estimate released by the National Statistics Office (ISTAT) on 14 February.

    Read more

  • Italy: Industrial production accelerates in December

    February 14, 2017

    Industrial output in Italy grew 1.4% in December on a month-on-month seasonally adjusted basis, a significant acceleration from the 0.8% expansion registered in November and overshooting analysts’ expectations of a flat reading.

    Read more

  • Italy: Inflation hits highest rate since September 2013 in January

    February 6, 2017

    According to provisional data released by the National Statistical Institute (Istat), consumer prices grew 0.2% from the previous month in January, down from December’s 0.4% increase.

    Read more

  • Italy: PMI weakens slightly in January

    February 1, 2017

    The IHS Markit manufacturing Purchasing Managers’ Index (PMI) decreased from 53.2 in December to 53.0 in January.

    Read more

  • Italy: Business confidence rises in January

    January 27, 2017

    The National Institute of Statistics’ (Istat) composite business confidence indicator (IESE, Istat Economic Sentiment Indicator), which covers the manufacturing, construction, service and retail sectors, rose from 100.2 in December to a three-month high of 102.5 in January. Three out of the four categories of the indicator improved compared to December: manufacturing, construction and services, with manufacturing hitting the best result since October 2015.

    Read more

More news

Search form