Current Account in Italy
Italy - Current AccountThe economy slipped into technical recession for the third time in a decade in the second half of 2018, contracting even more sharply in the fourth quarter than it did in the third. Shrinking domestic demand was likely the culprit for the gloomy showing. Particularly, business sentiment was hit by erratic and interventionist government policies, as well as by financial turbulence, while substantial stagnation in job creation—following the introduction of stricter recruitment rules—hurt private consumption. The economy seems set to record another poor performance in the first quarter of 2019: In January, business confidence declined further, while the manufacturing sector dived deeper into contractionary territory; and the recent weakening in credit provision also bodes poorly for the economy. At its latest review of the country on 22 February, Fitch Ratings kept a negative outlook with a BBB credit rating, citing an extremely high level of public debt and the absence of structural fiscal adjustment amid a volatile political landscape as the chief concerns.
Italy - Current Account Data
|Current Account (% of GDP)||1.0||1.8||1.5||2.6||2.8|
5 years of economic forecasts for more than 30 economic indicators.
Italy Current Account Chart
Source: Bank of Italy.
|Bond Yield||2.53||-0.40 %||Mar 20|
|Exchange Rate||1.14||0.65 %||Mar 20|
|Stock Market||21,330||-0.99 %||Mar 20|
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March 8, 2019
Industrial output jumped 1.7% in January on a month-on-month, seasonally-adjusted basis, contrasting December’s revised 0.7% contraction (previously reported: -0.8% month-on-month).
March 5, 2019
The Italian economy contracted for the second consecutive quarter in Q4, weighed down by weak domestic demand and by a notable destocking.
March 1, 2019
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) dipped to 47.7 in February from January’s 47.8, marking the worst reading in close to six years.
February 28, 2019
According to revised data released by the National Statistical Institute (ISTAT) on 15 March, consumer prices rose a revised 0.1% month-on-month in February (previously reported: +0.2% month-on-month), matching January’s increase.
February 27, 2019
The National Institute of Statistics (Istat)’s composite business confidence indicator (Clima di Fiducia delle Imprese Italiane, IESE)—which covers the manufacturing, construction, market services and retail sectors—fell to 98.3 points in February from January’s revised 99.1 points (previously reported: 99.2 points), marking the worst reading since February 2015. February’s reading was the result of deteriorating sentiment in the manufacturing, construction and market services sectors, which more than offset improved sentiment in the retail trade sector.