Current Account in Italy
Italy - Current AccountThe economy runs a serious risk of falling into a recession in Q2. Italy is one of the non-eastern, Euro area countries most economically vulnerable to the war in Ukraine, due to its large dependence on Russian gas imports. Harmonized inflation remained at record levels in April, while the manufacturing and services PMIs also fell that same month. Likewise, business and consumer confidence deteriorated. Meanwhile, government bond spreads have continued to increase, posing a risk to financial stability given Italy’s large public debt—151% of GDP at the end of last year. That said, government measures seem to be stopping the rot somewhat, with a 15 EUR billion package unveiled in May helping both business and consumer confidence to rebound in that same month. Activity will also be supported by the further relaxation of pandemic-related restrictions, including on tourism, from 1 May.
Italy - Current Account Data
|Current Account (% of GDP)||1.4||2.6||2.6||2.5||2.9|
5 years of economic forecasts for more than 30 economic indicators.
Italy Current Account Chart
Source: Bank of Italy.
|Bond Yield||1.31||-0.40 %||Jan 01|
|Exchange Rate||1.12||0.65 %||Dec 31|
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November 25, 2022
Business confidence came in at 104.7 in November, up from October's 106.4.
November 25, 2022
Consumer confidence jumped to 98.1 in November from October's 90.1.
November 22, 2022
Industrial output slid 1.8% in month-on-month seasonally-adjusted terms in September, which contrasted August's 2.3% increase.
November 18, 2022
Harmonized inflation came in at 12.5% in October, which was up from September’s 9.4%.
November 2, 2022
According to a preliminary estimate, GDP expanded 0.5% in Q3 in quarter-on-quarter seasonally adjusted terms, down from the 1.1% expansion recorded in the second quarter but beating market expectations.