In 2022, Italian GDP, adjusted for calendar effects and seasonally adjusted, increased by 3.9% compared to 2021. This was announced by Istat based on preliminary estimates, specifying that in 2022 there were three fewer working days of 2021. This is a figure higher than the government estimates contained in the Nadef, which indicated GDP growth of 3.7% for last year.
Istat recalls that the results of the annual national accounts for 2022 will be released on 1 March, while the quarterly ones consistent with the new annual data will be presented on 3 March.
In the fourth quarter of 2022, Italian GDP decreased by 0.1% compared to the previous quarter and grew by 1.7% in trend terms.
This is a trend reversal
compared to the +0.5% cyclical recorded in the third quarter and seven consecutive quarters of growth.
The cyclical change in the quarter, underlines Istat, is the synthesis of a decrease in added value both in the agriculture, forestry and fishing sector, and in that of industry, while services show growth.
On the demand side, there is a negative contribution from the national component (gross of inventories) and a positive one from the net foreign component.
The growth acquired for 2023, the one that - based on the thrust of 2022 - would be obtained if all the quarters of this year recorded a zero change in GDP, is 0.4%.
The forecast contained in the Nadef developed by the Meloni government at the beginning of November indicates an increase in GDP of 0.6% for this year.
In the last quarter of the past year, GDP growth in the 19 countries of the Eurozone slowed down again: the increase was equal to 0.1% compared to 0.3% in the previous quarter.
In the EU as a whole, growth was equal to zero.
This was announced by Eurostat based on the first flash estimates.
According to these data, Italy's GDP decreased by 0.1% in the October-December period.
In the past year as a whole, GDP growth was 3.5% in the Eurozone and 3.6% in the EU as a whole.