In the fourth quarter, GDP plunged a seasonally and working-day adjusted 0.7% over the previous quarter, according to the first estimate released by the National Statistics Office (ISTAT) on 15 February. The reading marked a further deterioration compared to the 0.2% contraction recorded in the previous quarter and was worse than market expectations of a 0.5% drop. In addition, the Q4 reading marked the largest contraction since the first quarter of 2009. In annual terms, the economy dropped 0.5% over the same quarter the previous year, which contrasted the 0.3% increase recorded in the third quarter of 2011 and marked the first year-on-year contraction since Q4 2009. Meanwhile, according to annual figures published by ISTAT on 2 March, GDP grew 0.4% in the full year 2011, below both the revised 1.8% expansion (previously reported: +1.4%) recorded in 2010 and government estimates of a 0.6% rise. According to the government, the economy is expected to contract 0.4% this year and to grow 0.3% in 2013. The Bank of Italy has a more pessimistic outlook and expects a 1.5% GDP contraction this year and flat growth in 2013.
GDP records largest drop in more than two years
February 15, 2012
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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.