This is the worst fall in the EU, the EC said. The Italian economy contracted at the sharpest pace on record in the second quarter as unprecedented shutdowns closed businesses and led to massive job shedding. (ANSA) - ROME, JUL 7 - Italy's GDP will fall a record 11.2% in 2020, the European Commission said Tuesday.

That said, Q2’s result beat analysts’ more pessimistic expectations of a 15.0% quarter on-quarter contraction. Italy gdp per capita for 2016 was $30,940, a 2.35% increase from 2015. OECD ECONOMIC OUTLOOK Report june 2020 Extract of the report 10 june 2020 The spread of Covid-19 has shaken people’s lives around the globe in an extraordinary way, threatening health, disrupting economic activity, and hurting wellbeing and jobs. Economic forecast for Italy; Economic forecast for Italy.

Exclusive: Italy Treasury sees 2020 GDP falling around 3% amid coronavirus chaos - sources. The lockdown shuttered most firms during March and April, and was lifted in May. Reference TEForecast Italian banks lent a net 23 billion euros to non-financial businesses in the three months through May, the Bank of Italy bulletin said, pushing the lending growth rate to 11.5% compared with a contraction of 0.3% in February. Consumer prices inched down 0.1% month-on-month in July, contrasting June’s 0.1% uptick, according to preliminary data released by the National Statistical Institute (ISTAT).

The Gross Domestic Product (GDP) in Italy was worth 2001.24 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. The Trading Economics Application Programming Interface (API) provides direct access to our data. Industrial output rebounded much more strongly than expected in May after collapsing in the previous two months due to the coronavirus lockdown, ISTAT reported earlier on Friday. Italy GDP Q2 2020.

Italy's gross domestic product shrank by 12.4 percent on quarter in the three months to June 2020, following a revised 5.4 percent contraction in the previous period and compared to market expectations of a 15 percent fall, a preliminary estimate showed.

Giuseppe Fonte, Gavin Jones.

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The Italian economy contracted at the sharpest pace on record in the second quarter as unprecedented shutdowns closed businesses and led to massive job shedding. Considering full 2019, GDP grew 0.3 percent, the least since 2014 but slightly better than government's forecast of 0.1%.Italy is the ninth largest economy in the world and the third largest in the Euro Zone. The IHS Markit manufacturing Purchasing Managers’ Index (PMI) rose from 47.5 in June to 51.9 in July, as demand conditions improved amid easing lockdown measures. The consumer confidence index released by the National Institute of Statistics (ISTAT) dipped from 100.7 in June to 100.0 in July. On the production side, contractions were seen in all main industries: agriculture, forestry and fishing, industry and services. “The recovery will be gradual,” the bank said, warning there would be “lasting effects on family consumption due to the decline in employment and disposable income.” The central bank estimated in its quarterly bulletin that gross domestic product fell around 10% in the second quarter from the previous three months, but said it would pick up to some extent over the second half of the year.

Year-on-year, the economy contracted 5.4 percent, more than preliminary estimates of 4.8 percent decline and following a 0.1 percent expansion at the end of 2019.Italy’s GDP shrank 4.7 percent on quarter in the three months to March of 200, following a 0.3 percent contraction in the previous month and entering a recession, preliminary estimates showed.

Italy Q1 GDP Contracts More than Expected Italy’s GDP shrank 5.3 percent on quarter in the three months to March of 2020, down from earlier estimates of a 4.7 percent drop as the country was the epicenter of the coronavirus pandemic during March. Italy GDP May Shrink Slightly More Than 8% in 2020, Says Economy Minister By Reuters , Wire Service Content June 12, 2020 By Reuters , Wire Service Content June 12, 2020, at 9:03 a.m. In the second quarter, Italy’s GDP tumbled a historic 12.4% over the previous period in seasonally- and working-day adjusted terms, according to an advance estimate released by Italy’s Statistics Institute (ISTAT) on 31 July. Italy gdp per capita for 2017 was $32,407, a 4.74% increase from 2016. Italy: GDP shrinks at historic pace in Q2, ravaged by Covid-19. Italy: GDP shrinks at historic pace in Q2, ravaged by Covid-19. Download a sample report now.Never miss out on our latest data, analysis and industry events. The first quarter registered a drop of 5.3% from the previous quarter, the steepest decline since ISTAT’s current series began in 1995. Summer 2020 Economic Forecast: A deeper recession with wider divergences The EU economy will experience a deep recession this year due to the coronavirus pandemic, despite the swift and comprehensive policy response at both EU and national levels. 1960-2020 Data | 2021-2022 Forecast | Calendar | Historical That was the steepest pace of contraction since comparable series began in the 1960s as the country was one of the hardest hit by the coronavirus pandemic. National statistics bureau ISTAT will publish preliminary second quarter GDP data on July 31.

Tue 17 Mar 2020 03.30 EDT Last modified on Wed 1 Jul 2020 13 ... it stands apart from the rest of the euro area on its poor economic fundamentals. For the time being, under the assumption of no nationwide lockdown after the summer we pencil in an average contraction for Italian 2020 GDP of around 10%.” FocusEconomics Consensus Forecast panelists see the economy plummeting 10.2% in 2020, which is unchanged from last month’s forecast.

With schools, universities, theatres and cinemas shut and its hugely-important tourist industry facing a washout summer, the economy is going to shrink in both the first and second quarters of 2020.

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