Italy's gross domestic product grew by a record 15.9 percent on quarter in the three months to September 2020, rebounding from an unprecedented contraction of 13 percent in the previous period but below preliminary estimates of a 16.1 percent expansion. Household consumption (12.4 percent vs -11.5 percent in Q2) and gross fixed capital formation (31.3 percent vs -17 percent) rebounded and government expenditure advanced faster (0.7 percent vs 0.3 percent). Also, foreign demand contributed positively to growth, as exports climbed 30.7 percent (vs -23.9 percent in Q2) while imports went up at a softer 15.9 percent (vs -17.8 percent in Q2). Year-on-year, the GDP shrank 5 percent, easing from an 18 percent slump in the second quarter and compared to earlier estimates of a 4.7 percent fall. source: National Institute of Statistics (ISTAT)
GDP Growth Rate in Italy averaged 0.57 percent from 1960 until 2020, reaching an all time high of 15.90 percent in the third quarter of 2020 and a record low of -13 percent in the second quarter of 2020. This page provides - Italy GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Italy GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.
GDP Growth Rate in Italy is expected to be -2.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Italy to stand at 1.40 in 12 months time. In the long-term, the Italy GDP Growth Rate is projected to trend around 1.20 percent in 2021 and 0.60 percent in 2022, according to our econometric models.