GDP, Istat confirms economic growth of 2.7% and records an increase of 17.3% on the second quarter of 2020
In the second quarter of 2021, the gross domestic product (GDP), expressed in chain-linked values with the reference year 2015, corrected 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. L’State, explaining that the preliminary estimate released on 30 July, it had recorded similar changes in both economic and trend terms.
“The full estimate of the quarterly income statements confirms the sustained growth of Pil of the Italian economy in the second quarter of 2021 spread in the preliminary estimate, with increases of 2.7% in economic terms and of 17.3% in trend terms “. This is what theState in the commentary on the second reading of Pil in the second quarter. “The strong recovery in production activity, explains the statistical institute, reflects a marked increase in added value both in industry and in the service sector.
From the side of the request, to support the growth of Pil they were the internal components of consumption and investments whose contribution was +2.6 and +0.5 percentage points, while the foreign component provided a contribution of 0.3 points ”. And he continues: “The contribution of inventories is negative for 0.8 percentage points. Hours worked grew by 3.9% in economic terms, job positions by 1.9%, while per capita incomes were substantially stationary ”. There acquired growth for 2021, that is the annual growth that would be obtained in the presence of a zero cyclical change in the remaining quarters of the year, is equal to 4.7%.
The second quarter of 2021, the institute recalls, had one more working day than both the previous quarter and the second quarter of 2020. Compared to the previous quarter, all the main aggregates of the domestic demand are expanding, with a 3.4% increase in national final consumption and 2.4% of gross fixed investments. Imports and exports increased by 2.3% and 3.2% respectively.
The national demand net of inventories made a positive contribution of 3.1 percentage points to the growth of the Pil: +2.8 points the consumption of households and Private Social Institutions (ISP), +0.5 points for gross fixed investments and -0.2 points for public administration expenditure (AP).
On the other hand, the change in inventories contributed negatively by 0.8 percentage points, while the contribution of net foreign demand it was positive to the extent of 0.3 percentage points. Finally, there are positive economic trends for the added value of industry and services, which increased by 1.6% and 2.9% respectively and steady for the added value ofagriculture.