GDP in Italy, Istat raises its estimate: + 4.7% on the year

GDP Italy, in the second quarter of 2022 the gross domestic product (GDP), expressed in chain-linked values ​​with the reference year 2015, corrected for calendar effects and seasonally adjusted, increased by 1.1% compared to the previous quarter and by 4 , 7% compared to the second quarter of 2021. Istat notes this in the income statements. The acquired change in GDP for 2022 is equal to + 3.5%. Read also The cyclical growth of GDP spread in a preliminary estimate on 29 July 2022 was 1% while the trend growth of 4.6%, recalls Istat. The second quarter of 2022 had one less working day than the previous quarter and one less working day than the second quarter of 2021. Compared to the previous quarter, all the main aggregates of domestic demand are recovering, with an increase of 1 , 7% of both national final consumption and gross fixed investments. Imports and exports increased by + 3.3% and + 2.5% respectively. National demand net of stocks made a positive contribution of 1.6 percentage points to GDP growth: +1, 5 consumption by households and ISP Private Social Institutions, +0.4 gross fixed investments, while expenditure by Public Administrations (PA) made a negative contribution equal to -0.2 percentage points. The change in inventories contributed negatively to the change in GDP for -0.3 percentage points, as did net foreign demand, which contributed equal to -0.2 percentage points. Positive economic trends were recorded for the added value of industry and services equal to 1.4% and 1% respectively, while agriculture recorded a decrease of 1.1%.