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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August 5, 2022
Industrial output decreased 2.1% month-on-month in seasonally-adjusted terms in June (May: -1.1% mom).
August 1, 2022
The S&P Global Manufacturing Purchasing Managers' Index (PMI) fell to 48.5 in July from June's 50.9.
July 29, 2022
According to a preliminary estimate, GDP growth gathered steam to 1.0% in the second quarter, from 0.1% in the first quarter.
July 27, 2022
Business confidence came in at 110.8 in July, down from June's 113.4. July's fall was driven by a weakening in sentiment in market services and manufacturing.
July 27, 2022
Consumer confidence fell to 94.8 in July from June's 98.3.