Skip to main content

Macroeconomic outlook report: Italy

First quarter of 2019

During the first quarter of 2019, Italian GDP accelerated by 0.09 p.p. its year-over-year growth rate, to 0.07%. This performance was mainly due to higher growth in domestic demand, which accelerated by 0.19 p.p. to 0.62%. In the labor market, the unemployment rate fell compared to the fourth quarter of 2018 to 10.42%, while the year-over-year rate of employment creation slowed by 0.13 p.p. to 0.45%. With regard to the exchange rate, the euro remained constant against the US dollar compared to the previous quarter, recording an average exchange rate of 1.14 $/€ during the first quarter of the year.

Macroeconomic overview

  • During the first quarter of the year, the Italian economy recorded an acceleration in its year-over-year GDP growth rate of 0.09 p.p. with respect to the previous quarter, to 0.07%. This performance was mainly due to higher growth in domestic demand, which increased by 0.19 p.p. to 0.62%, especially due to the acceleration in public spending and investment.
  • In the labor market, the unemployment rate fell by 0.16 p.p. from the previous quarter to 10.42%. The year-over-year growth rate of employment was 0.45%, decelerating by 0.13 p.p. from the previous quarter.
  • The euro kept at the same level against the US dollar, reaching an exchange rate of 1.14 $/€, which was the same exchange rate than the registered in 4Q18.
  • Inflation stood at 0.95% in the first quarter of 2019, slowing by 0.47 p.p. from the previous quarter.

For more information, click here to access the executive document in pdf.

© GMS Management Solutions, S.L., 2019. All rights reserved. The information contained on this publication is of a general nature and does not constitute a professional opinion or an advisory service. The data used in this publication come from public sources. GMS Management Solutions, SL assumes no liability for the veracity or accuracy of such data.