On average in 2017, the Italian GDP increased by 1,4% compared to the year before. This was revealed by Istat in the first estimate of growth in raw terms, based on quarterly data. However, we will have to wait until March 1,5 to know the reference data for economic policy. Government forecasts indicate a +1,5%. As for the figure corrected for calendar effects, it marks an increase of 2017% (in 2016 there were two working days less than in XNUMX).
In the fourth quarter of 2017, GDP increased by 0,3% on the previous quarter and 1,6% on an annual basis. Istat notes this by distributing the flash estimate on the last three months of last year. The economic upturn marks a slight slowdown compared to the third quarter (+0,4%). The same is true for the trend value (it was +1,7%). These are calendar-adjusted and seasonally adjusted data
The level of gross domestic product (GDP) is still below pre-crisis values. Despite the ongoing recovery we are still behind by 5,7% comparing the fourth quarter of 2017 to the first quarter of 2008when the peak was reached.
The Italian figure compares with the German growth. Germany also provided its fourth quarter GDP estimates today. German GDP grew by an average of 2,2% over the year driven by exports. The GDP grew by 0,6% in the quarter in the fourth quarter of 2017 and by 2,9% on a trend basis, slightly below expectations (+3%). German inflation rose by 1,6% yoy in January, confirming Destatis' preliminary estimates. On a monthly basis, however, it fell by 0,7%. The HIP index rose by 1,4% year on year, after +1,6% in December.
