GDP, Italy runs faster than Germany: growth is 1.9% in 2022
The Italian growth runs longer than expected while inflation reverses (slightly) the route downwards. According to the latest data released by theState in the first quarter of 2023 the gross domestic product has in fact increased by 0,6% over the previous three months and1,9% on the 2022. An increase of 0.1 points which actually beats the preliminary estimates of the end of April. With two working days more than the quarter and one working day more than in 2022, the change acquired for 2023 is equal to +0.9%, up by 0.1 percentage points compared to the April estimate (+0.8%). “There esteem complete with the quarterly economic accounts confirms the recovery of the Italian economy in the first quarter of 2023 after the setback at the end of 2022″, underlines Istat.
In detail, compared to the first quarter, all the main aggregates of domestic demand are on the increase, with growth of 0.7% in final consumption national and 0.8% of the investments gross fixed. While imports and exports decreased by 1% and 1.4%, respectively. National demand net of stocks contributed +0.7% to the GDP growth: household consumption and private social institutions contributed 0.3%. gross fixed investment for 0.2%, as well as public administration expenditure.
READ ALSO: Bankitalia, Visco: “It is possible to improve the Pnrr, there is no time to lose”
READ ALSO: Germany in recession, 2 negative quarters. The locomotive of Europe derails
Italian GDP growing, Visco: “In 2023, GDP will increase by 1%”
By contrast, both the change in stocks and the foreign demand net contributed negatively to the change in GDP, both by -0.1 percentage points. Finally, the economic trends they are positive for both industry and services, which grew by 0.2% and 0.8% respectively, while agriculture remained stable.
The governor of the Bank of Italy, Ignazio, also commented on the latest economic growth data released by Istat Visco. In his Final Considerations on the occasion of the presentation of the Annual Report, he stated that “in the first quarter of this year, economic growth once again exceeded expectations. For 2023, the forecasts available today converge on an increase in the product of around one percent”.
Subscribe to the newsletter
