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Macroeconomic outlook report: Italy

Third quarter of 2019

During the third quarter of 2019, Italian GDP accelerated in its y/y GDP growth rate when compared to the previous quarter, up to 0.32%. In the labor market, the unemployment rate fell compared to the second quarter of 2019 to 9.80 %, while the year-over-year rate of employment creation accelerated by 0.17 p.p. to 0.69%. With regard to the exchange rate, the euro depreciated against the US dollar compared to the previous quarter, recording an average exchange rate of 1.11 $/€ during the third quarter of the year. Finally, inflation decelerated to 0.36%.

Macroeconomic overview

  • During the third quarter of 2019, Italian GDP accelerated in its y/y GDP growth rate when compared to the previous quarter, up to 0.32%. This performance was due to the increase in the domestic demand, registering an increase of 0.40 p.p. in its y/y rate compared to the one observed in 2Q19, up to 1.10%.
  • In the labor market, the unemployment rate fell by 0.13 p.p. from the previous quarter to 9.80%. The year-over-year growth rate of employment was 0.69%, accelerating by 0.17 p.p. from the previous quarter.
  • The euro depreciated against the US dollar, reaching an exchange rate of 1.11 $/€, when compared to the exchange rate than the registered in 2Q19.
  • Inflation stood at 0.36% in the third quarter of 2019, slowing by 0.49 p.p. from 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.