Current Account in Italy

Italy Current Account | Economic News & Forecasts

Italy - Current Account

On 3 July, the European Commission (EC) announced it would not open an excessive deficit procedure for Italy, after the Italian government committed to cutting 2019’s deficit by over EUR 7 billion and to stick to EU rules in drafting the 2020 budget. Nevertheless, this does not eliminate the risk of an infringement procedure later this year; in October, the EC will examine the 2020 draft budget. Meanwhile, data for Q2 continues to point to a stagnant economy: The industrial sector performed poorly in the quarter, survey-based indicators remained weak, and credit growth was subdued. Moreover, retail trade activity was uneven in April-May. On a more positive note, the unemployment rate dropped to the lowest level since February 2012 in May, although June’s figures on the dynamics of layoffs due to corporate crisis are daunting. Higher precautionary savings could be restraining spending, moreover.

Italy - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)1.0  1.8  1.3  2.5  2.6  

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Italy Current Account Chart

Italy Current Account
Note: Current account balance as % of GDP.
Source: Bank of Italy.

Italy Facts

Bond Yield1.54-0.40 %Jul 31
Exchange Rate1.110.65 %Jul 31
Stock Market21,398-0.99 %Jul 31

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