In 2012 the Italian gross domestic product collapsed by 2,2% (data corrected for calendar effects), against +0,6% in 2011. This is the preliminary estimate by Istat.
On March 2013, 2012, the statistical institute will release the raw data of the 2,4 GDP, data comparable with the government estimates, contained in the update note of the Def released last September, which predicted a drop of 2012% in XNUMX .
Just in fourth quarter last year, gross domestic product deteriorated further, decreasing by 0,9% compared to the previous quarter. This is the sixth consecutive cyclical downturn: not since the third quarter of 1993 has there been such a long series of downturns (six successive downturns between the second quarter '92 and the third quarter '93).
Compared to the fourth quarter of 2011, GDP fell by 2,7%. The cyclical decline is the synthesis of decreases in value added in all sectors of economic activity: agriculture, industry and services.
Lastly, Istat warns that at the moment the variation acquired for the 2013 GDP is equal to -1%. The figure refers to the annual growth that would be obtained in the presence of zero cyclical variation in the remaining quarters of the year.
