Home » GDP in the third quarter grew by 2.6%: exceeded expectations. The change acquired for 2021 is + 6.1%

GDP in the third quarter grew by 2.6%: exceeded expectations. The change acquired for 2021 is + 6.1%

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The Italian economy accelerates. And it exceeds expectations. In the third quarter of 2021, GDP, adjusted for calendar effects and seasonally adjusted, increased by 2.6% compared to the previous quarter and by 3.8% in trend terms: “After a strong recovery in the second quarter, in the third quarter the Italian economy recorded a very sustained growth of the year, ”explains Istat.

More: the growth acquired for 2021, the one that would be obtained if in the fourth quarter of the year the Italian GDP recorded a zero cyclical change, is equal to 6.1%. The trend increase, therefore, follows «the exceptionally large recovery in the second quarter, resulting from the comparison with the low point of the second quarter of 2020».

And in particular, GDP growth in the third quarter of the year “benefited, for the second consecutive quarter, from a strong recovery in the market services sector, the most penalized by the crisis, and from industry growth”. In essence, the cyclical variation (+ 2.6%) is the result of the synthesis of a decrease in added value in the agriculture, forestry and fishing sectors and an increase in both industry and services. On the demand side, there is a positive contribution from both the domestic component (gross of inventories) and the net foreign component.

Germany

The Italian figure is in contrast with the German one where GDP increased in the third quarter by 1.8% compared to the previous quarter, under the estimates of analysts who had forecast a + 2.2%. This was announced by the German Statistical Institute which revised upwards the GDP of the second quarter to 1.9% from 1.6%. On a trend basis, German GDP increased by 2.5% above the + 2.4% estimated by analysts. In the second quarter it was + 10.3%.

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