NewsEconomicsGDP, Istat: "Italy's economy growth confirmed"

GDP, Istat: “Italy’s economy growth confirmed”

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“The complete estimate of the quarterly income statements confirms the sustained growth of GDP of the Italian economy in the second quarter of 2021 as widespread in the preliminary estimate, with increases of 2.7% in economic terms and of 17.3% in trend terms”. This is Istat’s comment on the gross domestic product data for the period April-June. “The strong recovery in production – he explains – reflects a marked increase in added value both in industry and in the tertiary sector. On the demand side, the internal components of consumption and investments supported the growth of GDP. contribution was +2.6 and +0.5 percentage points, while the foreign component provided a contribution of 0.3 points. Negative is the contribution of inventories for 0.8 percentage points. Hours worked increased by 3 , 9% in economic terms, job positions by 1.9%, while per capita incomes were substantially stationary “, concludes Istat. Estimates: in the second quarter + 2.7% on the previous, +17, 3% on 2020 In the second quarter of 2021, gross domestic product (GDP), expressed in chain-linked values ​​with reference year 2015, adjusted for calendar effects and seasonally adjusted, increased by 2.7% compared to the previous quarter and by 17, 3% compared to the second quarter of 2020. The preliminary estimate of GDP released on 30 July 2021 had recorded similar changes both in economic and trend terms, communicates Istat, in recalling how the period under analysis had one more working day both compared to the previous quarter and compared to in the second quarter of 2020. The change acquired for 2021 is also equal to + 4.7%. Compared to the previous quarter, all the main aggregates of domestic demand recorded an expansion, with an increase of 3.4% in final national consumption and 2.4% of gross fixed investments. Imports and exports increased by 2.3% and 3.2%, respectively. National demand net of stocks made a positive contribution of 3.1 percentage points to GDP growth: +2.8 points consumption by households and private ISP social institutions, +0.5 points for gross fixed investments and -0.2 points for spending by public administrations (PA). On the other hand, the change in inventories contributed negatively by 0.8 percentage points, while the contribution of net foreign demand was positive by 0.3 percentage points. Positive economic trends are recorded for the added value of industry and services, which increased by 1.6% and 2.9% respectively, and steady for the added value of agriculture.

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