After OECD forecasts, the certainties of Istat arrive: the Italian economy is growing at too slow a rate. According to the statistical institute, in the second quarter of 2011 the increase in GDP was 0,8% on an annual basis and 0,3% compared to the January-March period.
The economic growth acquired for 2011 is equal to 0,7%, well below the estimates of the Government (+1,1%). In the first quarter of the year there was an almost zero cyclical increase (+0,1%) against however a more decisive growth trend (+1%). According to the latest Istat report, all components of domestic demand increased between April and June. Imports fell by 2,3%, while exports registered a growth of 0,9%.
Domestic demand contributed 0,2% to GDP growth, while foreign demand contributed 0,9%. The cyclical trends of the added value of industry (+0,9%) and services (+0,1%) were also positive, while that of agriculture fell by 2,4%. Household spending recorded an increase of 1,1% in tendential terms. Purchases of services increased by 1,9%, consumption of non-durable goods by 0,1%.
Going beyond the Italian borders, in trend terms the GDP increased by 2,8% in Germany, by 1,6% in France, by 1,5% in the United States and by 0,7% in the United Kingdom; in Japan it fell by 0,9%. In the Euro area as a whole, the GDP increased in cyclical terms by 0,2% and in tendential terms by 1,6%.
