The Italian GDP remains in negative territory also in the third quarter. According to data released by Istat, in fact, in the quarter under consideration gross domestic product, adjusted for calendar effects and seasonally adjusted, decreased by 0,1% compared to the previous quarter and by 0,5% on an annual basis . The preliminary estimate released on 14 September has been lowered, when the statistical institute had forecast an annual contraction of 0,4%. On the other hand, the economic situation is stable.
With this figure, the number of consecutive years in which the GDP shows negative changes at the economic level rises to three, starting from the third quarter of 2011. Since then, only in the third quarter of 2013 and in the first quarter of 2014 has the GDP registered a zero change . According to the statistical institute, the Italian economy "is back to the levels of the beginning of 2000".
The acquired change in GDP for 2014 is equal to -0,4%. Also in this case, Istat has revised downwards the preliminary estimate of 14 November, which spoke of a decrease of 0,3%. On the other hand, the expenditure of resident households increased, which in the third quarter recorded growth of 0,1% on a quarterly basis and 0,4% on an annual basis.
Compared to the previous quarter, national final consumption recorded no change, while gross fixed investments fell by 1%. Imports decreased by 0,3% and exports increased by 0,2%. The growth of exports (+1,3%) served as partial compensation for the drop in domestic demand.
Finally, in the third quarter, negative changes were recorded, compared to the previous three months, as regards the added value of agriculture (-0,1%), industry in the strict sense (-0,6%) and construction (-1,1%), while the added value of services remained stable. In the annual comparison, the added value decreased in all the main sectors, and in particular in construction, -3,5%.
