Italy's GDP confirmed +0.4% for 2nd quarter and +1.5% for 2017
Rome - ISTAT, the Italian statistics institute, confirms its growth estimates: 2nd quarter GDP growth of O.4% compared to 1st quarter, and 1.5% compared to 2nd quarter 2016. These are Italys highest growth levels since six years ago. The acquired variation for 2017 is 1.2%. In the second quarter, ISTAT indicates that the GDP has risen in economic terms by 0.8% in the US, 0.5% in France, 0.6% in Germany and 0.3% in the UK. On a yearly comparison, rises have been 2.2% in the US, 2.1% in Germany and 1.7% in France and the UK. Overall in the Euro Area, GDP has risen by 0,6% compared to the previous quarter, and by 2.2% compared to the same quarter in 2016. Italys 2nd quarter growth has in part been influenced by rising family expenditure.
ISTAT measures that family spending has risen by 0.3% compared to the 1st quarter, while compared to the 2016 2nd quarter it has grown by 1.2%. Compared to the preceding quarter, all the main aggregates of domestic demand have risen, with a growth of 0.2% in national final consumption and 0.7% in gross fixed capital formation. Italian imports and exports have both grown, by respectively 0.7% and 0.6%.Domestic demand net of stocks contributed by 0.3 percentage points to GDP growth (+0.2 in expenditure by families and Private Social Institutions, +0.1 in gross fixed capital formation, with no contribution from Public Administration spending). Stock variation has contributed positively to GDP growth (+0.1 percentage points), while net foreign demand made no contribution.Positive business cycle trends are visible in the added value of industry (+ 0.6%) and service (+0.4%) activities, while agricultural added value has fallen by 2.2%.