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Macroeconomic outlook report: Italy

Third quarter of 2017

During the third quarter of 2017, Italian GDP recorded an acceleration of 0.16 p.p. in its year-over-year growth rate with respect to the previous quarter, up to 1.69%. This behavior was explained by the acceleration recorded in the services sector and industry, excluding construction. In the labor market, the year-over-year growth rate of employment registered an increase, and the unemployment rate stood at a rate of 11.19%. With respect to the exchange rate, the euro recorded a slight appreciation against the dollar, standing at 1.17 $/€ in the third quarter of the year.

Macroeconomic overview

  • During the third quarter of the year, the Italian economy registered an acceleration in the year-over-year growth rate of GDP of 0.16 p.p. when compared with the previous quarter, up to 1.69%. This behavior was mainly due to the acceleration recorded in the services sector and industry, excluding construction.
  • The Industrial Production Index presented positive values, registering a year-over-year growth rate of 2.75%.
  • Regarding the labor market, the unemployment rate experienced a slight decrease of 0.03 p.p. with respect to the previous quarter, standing at 11.19%, while the year-over-year growth rate of employment stood at 1.23%, after an acceleration of 0.32 p.p.
  • The euro recorded a slight appreciation against the dollar, with the exchange rate standing at 1.17 $/€ in the third quarter of 2017, which means an increase of 0.07 $/€ when compared to the second quarter. This appreciation of the euro against the dollar is explained by the good growth prospects of the European economies, as well as the uncertainty about the US fiscal policy.
  • The Italian Consumer Price Index increased in the third quarter of 2017 at a rate of 1.13%, after decelerating by 0.37 p.p. compared to the previous quarter. This slowdown was explained by the evolution in energy prices and services.

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© GMS Management Solutions, S.L., 2018. 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.