Italy’s gross domestic product stalled from the previous quarter in the three months ending in September of 2024, slowing from the 0.2% advance in the June quarter and missing market expectations of another 0.2% increase. It marked the first period without growth since the slight contraction in June of 2023, indicating some impact on the restrictive borrowing costs passed by the European Central Bank. The gross domestic product was negatively impacted by net foreign demand, which offset an increase in inventory levels. The development decreases the likelihood that Italy will achieve the government's goal of 1% growth this year, while also pressuring the government's goal of achieving a deficit of 3.8% this year, which is already below the EU's target of 3%. From the previous year, the Italian GDP expanded by 0.4% in the third quarter, the slowest since December of 2020. source: National Institute of Statistics (ISTAT)

The Gross Domestic Product (GDP) in Italy stagnated 0 percent in the third quarter of 2024 over the previous quarter. GDP Growth Rate in Italy averaged 0.56 percent from 1960 until 2024, reaching an all time high of 13.90 percent in the third quarter of 2020 and a record low of -11.80 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 November of 2024.

The Gross Domestic Product (GDP) in Italy stagnated 0 percent in the third quarter of 2024 over the previous quarter. GDP Growth Rate in Italy is expected to be 0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Italy GDP Growth Rate is projected to trend around 0.40 percent in 2025 and 0.30 percent in 2026, according to our econometric models.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-09-02 08:00 AM QoQ Final Q2 0.2% 0.3% 0.2% 0.2%
2024-10-30 09:00 AM QoQ Adv Q3 0% 0.2% 0.2% 0.3%
2024-12-02 10:00 AM QoQ Final Q3 0.2% 0% 0.0%


Related Last Previous Unit Reference
Full Year GDP Growth 0.70 4.70 percent Dec 2023
GDP Growth Rate YoY 0.40 0.60 percent Sep 2024
GDP Constant Prices 450759.40 450056.00 EUR Million Jun 2024
GDP from Agriculture 7831.40 7964.10 EUR Million Jun 2024
GDP from Construction 24195.70 24054.80 EUR Million Jun 2024
GDP from Manufacturing 75163.80 75758.00 EUR Million Jun 2024
GDP from Services 300891.60 299761.80 EUR Million Jun 2024
GDP Growth Rate 0.00 0.20 percent Sep 2024
Gross Fixed Capital Formation 102003.20 101721.40 EUR Million Jun 2024

Italy GDP Growth Rate
Italy is the ninth largest economy in the world and the third largest in the Euro Zone. The country has a diversified industrial base driven in large part by manufacturing of high-quality consumer goods. Composition of the GDP on the expenditure side: household consumption (61 percent), government expenditure (19 percent) and gross fixed capital formation (17 percent). Exports of goods and services account for 30 percent of GDP while imports for 27 percent, adding 3 percent to total GDP.
Actual Previous Highest Lowest Dates Unit Frequency
0.00 0.20 13.90 -11.80 1960 - 2024 percent Quarterly
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News Stream
Italian GDP Unexpectedly Stalls
Italy’s gross domestic product stalled from the previous quarter in the three months ending in September of 2024, slowing from the 0.2% advance in the June quarter and missing market expectations of another 0.2% increase. It marked the first period without growth since the slight contraction in June of 2023, indicating some impact on the restrictive borrowing costs passed by the European Central Bank. The gross domestic product was negatively impacted by net foreign demand, which offset an increase in inventory levels. The development decreases the likelihood that Italy will achieve the government's goal of 1% growth this year, while also pressuring the government's goal of achieving a deficit of 3.8% this year, which is already below the EU's target of 3%. From the previous year, the Italian GDP expanded by 0.4% in the third quarter, the slowest since December of 2020.
2024-10-30
Italian GDP Growth Confirmed at 0.2% in Q2
Italy’s gross domestic product expanded by 0.2% from the previous quarter in the three months ending June of 2024, slowing slightly from the 0.3% growth rate in the first quarter of the year, aligning with preliminary estimates, the final reading showed. Gross fixed capital formation rose by 0.3% from the earlier period, with machinery (1.1%) and buildings (1.8%) growth offsetting a contraction for dwellings (-1.1%). Meanwhile, consumption remained unchanged in the second quarter, with household consumption edging up by 0.2%, while government spending fell by 0.5%. In addition, exports dropped by 1.5%, and imports decreased by 0.6%. On an annual basis, GDP rose by 0.9%, its strongest growth in five quarters, marking a notable acceleration from a 0.6% rise in the previous quarter. Looking ahead, the Treasury forecasts a 0.6% growth rate for 2024, consistent with predictions from most independent analysts.
2024-09-02
Italian GDP Growth Slows as Expected
Italy’s gross domestic product expanded by 0.2% from the previous quarter in the three months ending in June of 2024, moderating from the 0.3% expansion in the first quarter, and in line with market expectations of a 0.2% growth rate, according to a flash estimate. The domestic component of the GDP was positive for growth, led by a significant inventory build. On the other hand, net exports contributed negatively to the GDP. Annually, the Italian GDP expanded by 0.9% in the second quarter, picking up from the revised 0.6% expansion in the first quarter.
2024-07-30