According to more complete data released on 11 March, in the fourth quarter GDP rose a seasonally and working day adjusted 0.1% quarter-on-quarter, confirming the preliminary estimate released on 15 February. The expansion was below the 0.3% rise observed in the third quarter. On an annual basis, the economy expanded 1.5%, a notch above the 1.4% rise recorded in the previous quarter. The weaker quarterly result was mainly due to a deterioration in the contribution of the external sector to growth. Domestic demand maintained the same pace as in the previous quarter, mainly supported by a positive shift in inventories. Private consumption rose 0.3%, a tad below the 0.4% rise recorded in the third quarter, while fixed investment contracted 0.7% quarter-on-quarter, contrasting the 0.8% expansion recorded in the previous three-month period. Meanwhile, the net contribution from the external sector to overall growth deteriorated in the fourth quarter, as imports outpaced exports for a second consecutive quarter. Exports of goods and services expanded a meagre 0.5%, down from the 2.6% rise recorded in the previous quarter, while imports grew 3.4%, down from the 4.9% expansion recorded in the June-September period. As a result, the net contribution from the external sector to overall growth dropped from minus 0.7 percentage points in the third quarter to minus 0.9 percentage points in the fourth. Based on quarterly figures, the economy expanded 1.2% in the full year 2010, which contrasted the revised 5.2% contraction recorded in 2009 (previously reported: -5.1%). The result marked the first year of positive growth after two consecutive years of contracting economic activity and matched the government's forecast for the year. The Ministry of Economy and Finance sees the economy growing 1.3% this year and 2.0% in 2011, while Prime Minister Silvio Berlusconi stated that the economy is likely to grow 1.5% in 2011. The Bank of Italy (BoI), in contrast, is far less optimistic and sees the economy expanding only 0.9% this year and 1.1% next year.
Growth moderates in fourth quarter
March 16, 2011
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Italy Economic News
October 14, 2016
According to revised data released by the Italian Statistical Institute (ISTAT), consumer prices fell 0.2% from the previous month in September.
October 10, 2016
In August, industrial output increased 1.7% from the previous month, accelerating from July’s revised 0.7% increase (previously reported: +0.4% month-on-month).
October 3, 2016
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) rose from 49.8 in August to 51.0 in September, taking it above the 50-threshold that separates expansion from contraction in the manufacturing sector. September’s result mainly reflected a return to growth in new orders, which, in the previous month, had dropped slightly for the first time in over one-and-a-half years.
September 30, 2016
According to provisional data released by the Italian Statistical Institute (ISTAT), consumer prices fell 0.2% over the previous month in September, contrasting August’s 0.2% increase and marking the lowest result in seven months.
September 28, 2016
The National Institute of Statistics’ (Istat) composite business confidence indicator (IESE, Istat Economic Sentiment Indicator), which covers the manufacturing, construction, service and retail sectors, increased from a revised 99.5 in August (previously reported: 99.4) to 101.0 in September. All four categories of the indicator improved compared to August.