In the third quarter, gross domestic product rose a seasonally and working day adjusted 0.3% quarter-on-quarter, inching up from the 0.2% expansion reported in the preliminary estimate of 12 November. The expansion came in below the 0.5% rise observed in the second quarter. On an annual basis, the economy expanded 1.1%, which was down from the 1.3% rise recorded in the previous quarter. The weaker quarterly result was mainly due to negative net exports. Domestic demand improved compared to the previous quarter, driven in particular by a positive shift in inventories. Private consumption rose 0.3%, up from the flat reading recorded in the second quarter while fixed investment grew only 0.9% quarter-on-quarter, down from the 2.0% expansion recorded in the previous three-month period. Meanwhile, the net contribution from the external sector to overall growth turned negative in the third quarter. Exports expanded 2.8%, up from the 2.4% rise recorded in the previous quarter, while imports grew 4.7%, contrasting the 0.1% drop recorded in the March-June period. As a result, the net contribution from the external sector to overall growth swung from 0.6 percentage points in the second quarter to minus 0.5 percentage points in the third. The Ministry of Economy and Finance sees the economy growing 1.2% this year and 1.3% in 2011, while the Central Bank is less optimistic and sees the economy expanding 1.0% both this year and next.
Growth moderates in third quarter
December 10, 2010
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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.