PRELIMINARY ESTIMATE OF GDP - III QUARTER 2023

In the third quarter of 2023, gross domestic product (GDP), expressed in chain-linked values with the reference year 2015, adjusted for calendar effects and seasonally adjusted, is estimated to have remained stationary both compared to the previous quarter and compared to the third quarter of 2022.

The third quarter of 2023 had three more workdays than the previous quarter and one fewer workday than the third quarter of 2022.

The cyclical change is the result of a decrease in value added in the agriculture, forestry and fisheries sector, an increase in that of industry and a stagnation in the service sector. On the demand side, there is a negative contribution from the domestic component (gross of inventories) and a positive contribution from the net foreign component.

The change acquired for 2023 is +0.7%.

Commentary

The Italian economy remains stable in the third quarter of 2023 after the decline recorded in the second quarter of the year. The trend is also stable, interrupting a growth that had lasted for ten consecutive quarters. Acquired GDP growth thus stabilised at 0.7%, the same value as in the second quarter of the year.

The result is the synthesis, on the production side, of a decline in the value added of agriculture, growth of industry and substantial stability in the service sector. On the demand side, there is a negative contribution from demand before inventories and a positive contribution from net foreign demand.

FDT CONSULTING