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Macroeconomic outlook report: Italy

Fourth quarter of 2019

During the fourth quarter of 2019, Italian GDP decelerated in its y/y GDP growth rate when compared to the previous quarter, down to 0.09%. In the labor market, the unemployment rate fell compared to the third quarter of 2019 to 9.73%, while the year-over-year rate of employment creation accelerated by 0.08 p.p. to 0.71%. 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 1.11 $/€ during the fourth quarter of the year. Finally, inflation decelerated to 0.29%.

Macroeconomic overview

  • During the fourth quarter of 2019, the Italian GDP decelerated in its y/y GDP growth rate when compared to the previous quarter, down to 0.09%. This performance was due to the decrease in the domestic demand, which registered a deceleration of 0.40 p.p. in its y/y rate compared to the one observed in 3Q19, down to 0.27%.
  • In the labor market, the unemployment rate fell by 0.08 p.p. when compared to the previous quarter to 9.73%. The year-over-year growth rate of employment was 0.71%, accelerating by 0.08 p.p. with respect to the previous quarter.
  • The euro remained constant against the US dollar when compared to the previous quarter, registering an exchange rate of 1.11 $/€.
  • Inflation stood at 0.29% in the fourth quarter of 2019, slowing down by 0.07 p.p. when compared to the previous quarter.

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© GMS Management Solutions, S.L., 2020. 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.