GDP: Italy stable (+0.7), growing more than Germany
Consumer prices grow (+2%) less than the euro area average /Annex
However, the performance of our economy is lower than that of France and Spain
The international economic prospects remain very uncertain, conditioned by the worsening of geo-political tensions and unfavorable financial conditions for families and businesses.
In the third quarter, Italian GDP was, according to the preliminary estimate, stable compared to the previous three months, recording a better result than Germany but worse than that of France and Spain. The acquired change in GDP growth for 2023 is equal to 0.7%. This is reported in a monthly note from Istat on the performance of the Italian economy in October 2023.
On the supply side, the seasonally adjusted manufacturing sector production index remained unchanged in September after the slight increase in August. In the third quarter on average, production recorded an increase of 0.2% compared to the previous three months.
The labor market continues to show good resilience despite the economic weakness. In September, the employed and unemployed increased compared to August while the inactive decreased.
The trend growth of the harmonized index of consumer prices (HICP) was below 2% in October. This dynamic was one point lower than the euro area average due to the sharper decline in the prices of energy goods in Italy.
In October, household and business confidence continued to decline, suggesting that the Italian economy could slow in the coming months.
Attached to this EFA News is the full text and the Istat methodological note.
EFA News - European Food Agency