Home Business Istat revises its 2021 GDP estimates upwards: growth at + 6.7%

Istat revises its 2021 GDP estimates upwards: growth at + 6.7%

by admin
Istat revises its 2021 GDP estimates upwards: growth at + 6.7%

In 2021, GDP at market prices amounted to 1,782,050 million current euros, with an upward revision of 6,614 million compared to the estimate of last April. For 2020, the level of GDP is revised upwards by 3,660 million euros. Istat communicates this in the note on the income statements. In 2021, the rate of change in GDP in volume is equal to + 6.7%, with an upward revision of 0.1 percentage points compared to the April estimate. Based on the new data, GDP in volume fell by 9.0% in 2020, unchanged from the April estimate. In 2021, gross fixed investments increased in volume by 16.5%, national final consumption by 4.2%, exports of goods and services by 13.4% and imports by 14.7%.

Value added in volume increased by 11.5% in industry in the strict sense, by 21.6% in construction and by 4.7% in the service sector, while it decreased by 1.3% in the construction sector. agriculture, forestry and fishing. Furthermore, according to Istat, in 2021 for all non-financial companies the profit share is equal to 41% and the investment rate is equal to 23.1%. The disposable income of consumer households in 2021 marked an increase of 3.7% in current values ​​and 2.1% in terms of purchasing power. The simultaneous increase in private consumption (+ 6.9%), generated a decline in households’ propensity to save, which went to 13.1% from 15.6% in 2020.

Within services, increases were recorded in the sector which groups wholesale and retail trade, repair of motor vehicles and motorcycles, transport and storage, accommodation and catering services (+ 10.7%), information and communication services (+ 2.8%), in financial and insurance activities (+ 0.8%), in real estate activities (+ 1.9%), in professional, scientific and technical activities; administrative and support services (+ 7.3%) and in the public administration, defense, education, health and social services sectors (+ 1.6%). On the household income front, in 2021 gross disposable income increased by 3.7% in current values ​​and by 2.1% in real terms, or purchasing power. The simultaneous increase in final consumption expenditure (+ 6.9%) generated a reduction in the propensity to save, which went from 15.6% in 2020 to 13.1%. Housing investment activity marked a marked acceleration of 28.4%.

See also  State Cloud, Colao: "There will be room for everyone with clear rules"

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy