In third quarter Italian GDP drops by 0,2% compared to the previous three months. This was revealed by Istat, underlining however that compared with the same period of 2010 there was an increase of 0,2%.
GDP has been adjusted for calendar effects and seasonally adjusted. All components of domestic demand decreased. Imports fell by 1,1%, exports grew by 1,6%. The one recorded today is the first short-term drop in GDP since the third quarter of 2009.
National demand net of inventories, underlines Istat, subtracted 0,4 percentage points from the cyclical growth of the GDP (household consumption -0,1, public administration spending -0,1 and investments -0,2 ). The change in inventories also contributed negatively to GDP growth (-0,5 percentage points), while the contribution of net foreign demand was positive by 0,8 percentage points. Negative cyclical adjustments were also noted for the added value of agriculture (-0,9%) and industry (-0,1%). The added value of services has remained stationary.
