Current Account in Italy
Italy - Current Account (billions of Euros)Italy’s economic recovery moderated further in the second quarter, weighed on by a weak external sector and anemic consumer spending. This was despite the significant rebound in fixed investment, on the back of robust growth in transport equipment and rising housing investment. Monthly data for the third quarter, meanwhile, suggests the economy has shifted into a lower gear. In July industrial production contracted significantly, as was seen more broadly across the Eurozone, while in August economic sentiment cooled and the manufacturing sector neared stagnation. As for household spending, retail sales dropped in July and consumer sentiment dipped in August. Nevertheless, sentiment remains positive and, although the level of employment dropped, the unemployment rate fell to its lowest levels in over six years in July. This, coupled with the formation of a government in June, could have supported spending in Q3. However, ongoing 2019 budget negotiations within the government continue to worry investors; interest rates on Italian bonds remain extremely sensitive to government announcements concerning the future fiscal stance.
Italy - Current Account (EUR bn) Data
|Current Account Balance (EUR bn)||16.0||31.1||25.0||43.5||47.8|
5 years of economic forecasts for more than 30 economic indicators.
Italy Current Account (EUR bn) Chart
Source: Bank of Italy.
|Bond Yield||3.46||-0.11 %||Oct 16|
|Exchange Rate||1.16||0.65 %||Oct 16|
|Stock Market||19,718||-0.99 %||Oct 16|
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October 16, 2018
According to revised data released by the National Statistical Institute (ISTAT) on 16 October, consumer prices dropped a revised 0.5% month-on-month in September (previously reported: -0.4% month-on-month), contrasting August’s 0.4% increase.
October 11, 2018
Industrial output jumped 1.7% in August on a month-on-month, seasonally-adjusted basis, contrasting July’s revised 1.6% decrease (previously reported: -1.8% month-on-month).
October 3, 2018
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) dipped to an over two-year low of 50.0 in September from August’s 50.1.
September 28, 2018
According to provisional data released by the National Statistical Institute (ISTAT) on 28 September, consumer prices dropped 0.4% month-on-month in September, reversing August’s 0.4% increase.
September 27, 2018
The consumer confidence index released by the National Institute of Statistics (ISTAT) edged up to 116.0 points in September from August’s revised 115.3 points (previously reported: 115.2 points). Consumers’ expectations of the future general economic situation and their assessments of the current general economic situation improved, while their expectations of their future personal economic situation and their assessments of their current personal economic situation deteriorated slightly.