Italy's GDP rises in Q2 2022 driven by domestic demand

12 Oct '22

1 min read

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Italy’s gross domestic product (GDP) increased in the second quarter this year driven by domestic demand, while net exports gave a negative contribution, according to the government statistical agency. Industrial production in August increased strongly by 2.3 per cent over the previous month, but assuming that September index will remain on the same value of August, the third quarter will return only a marginal increase.

Inflation in the country accelerated in September and the diffusion of the inflationary process widened.

Exports rose by 2.6 per cent for European Union (EU) member countries and by 5.7 per cent for non-EU countries. Imports grew by 1.6 per cent for EU countries and by 5 per cent for non-EU countries.

The number of both employed and unemployed persons decreased in August, while a growth was recorded for inactive people. The unemployment rate declined to 7.8 per cent.

The outlook for next few months continues to worsen. In September, the consumer and business confidence index decreased.

ALCHEMPro News Desk (DS)

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