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Economy in Brief

Italy’s GDP Snakes Below 2% Year-over-year
by Robert Brusca September 10, 2007

GDP slows, private consumption holds up, capital formation slows.

GDP is slowing in Italy’s quarterly and annual framework. Private consumption has been holding up and even improving slightly, but remains at a subdued pace around the two percent mark. Capital formation has slowed. The trade gap is subtracting from GDP in the recent quarter as exports fell by more than imports. In July Germany reported a sharp weakening in its industrial orders from overseas. This export weakness reported by Italy may be part of that same signal. Domestic demand in Italy is up in the quarter but only holding steady Yr/Yr at a 2.2% pace, a bit of reduced pace from late last year.

 Italy Real GDP
    Consumption Capital Formation      
  GDP Private Public Total Construction Machinery X-M:Bil.Euro Exports Imports
Domestic Demand
% change Q/Q; X-M is Q/Q change in Blns of euros
Q2-07 0.5% 2.4% 0.6% 0.4% -5.0% -1.1% -0.6 -4.0% -1.1% 1.3%
Q1-07 1.1% 2.9% 0.4% 1.6% 6.3% -0.1% 0.9 -0.3% -4.3% 0.0%
Q4-06 4.6% 0.8% 0.0% 8.5% 11.9% 7.1% 1.9 18.0% 7.2% 2.1%
Q3-06 1.2% 2.5% 0.8% -2.2% 1.4% -0.6% -3.4 -7.3% 9.0% 5.5%
% change Yr/Yr; X-M is Yr/Yr change in Gap in Bil of euros
Q2-07 1.8% 2.2% 0.4% 2.0% 3.4% 1.3% -1.2 1.1% 2.6% 2.2%
Q1-07 2.3% 2.0% 0.2% 2.5% 5.8% 1.3% 0.4 3.6% 3.1% 2.2%
Q4-06 2.8% 1.9% -0.3% 3.9% 4.6% 3.6% 0.3 6.0% 5.5% 2.7%
Q3-06 1.6% 1.3% -0.4% -0.1% 0.3% -0.3% -1.6 3.1% 5.1% 2.1%
5-Yrs 1.0% 1.2% 1.0% 1.4% 2.3% 1.0% na 1.3% 2.1% 1.2%
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