Rome, 31 August 2021 – the GDP of Italy runs in second quarter of 2021, scoring a + 2.7% compared to the previous one e +17,3% towards the second quarter of 2020. To say this is theState noting that it is the higher data on a trend basis never recorded since 1995. The preliminary estimate of our Gross Domestic Product released on 30 July 2021 had recorded similar changes both in economic terms and in trend terms. The increase – explains the Institute of Statistics – derives from the comparison with the minimum point reached in the second quarter of last year at the height of the health crisis.
The second quarter of 2021 had one more working day both compared to the previous quarter and compared to the second quarter of 2020. The change acquired for 2021 is equal to + 4.7%. Compared to the previous quarter, all the main aggregates of domestic demand recorded an expansion, with an increase of 3.4% in national final consumption and 2.4% in gross fixed investments. Imports and exports increased by 2.3% and 3.2% respectively.
National demand net of inventories provided a positive contribution of 3.1 percentage points to GDP growth: +2.8 points for household consumption and private ISP social institutions, +0.5 points for gross fixed investments and – 0.2 points of the expenditure of the Public Administrations (PA). On the other hand, the change in inventories contributed negatively by 0.8 percentage points, while the contribution of net foreign demand was positive by 0.3 percentage points. Positive economic trends were recorded for the added value of industry and services, which increased by 1.6% and 2.9% respectively and steady for the added value of agriculture.
“The complete estimate of the quarterly income statements confirms the sustained GDP growth of the Italian economy in the second quarter of 2021 spread in the preliminary estimate, with increases of 2.7% in economic terms and of 17.3% in trend terms – reads the commentary note -. The strong recovery in production reflects a marked increase in added value both in industry and in the tertiary sector. On the demand side, the internal components of consumption and investments supported the growth of GDP, the contribution of which was +2.6 and +0.5 percentage points, while the foreign component provided a contribution of 0, 3 points. The contribution of inventories was negative for 0.8 percentage points. Hours worked grew by 3.9% in economic terms, job positions by 1.9%, while per capita incomes were substantially stationary “.
Ad August then accelerates inflation with the national consumer price index which marks an increase of 0.5% on a monthly basis and of 2.1% on an annual basis (from + 1.9% in the previous month), the highest level since January 2013. Second preliminary estimates, in August 2021 the national consumer price index for the whole community (NIC), gross of tobacco, recorded an increase of 0.5% on a monthly basis and of 2.1% on a annual (from + 1.9% the previous month).
The tendential acceleration of inflation is mainly due to that of prices of energy goods (from + 18.6% in July to + 19.8%) and in particular those of the non-regulated component (from + 11.2% to + 12.8%), while the prices of the regulated component continue to register very large growth (and slightly accelerating from + 34.2% to + 34.4%). The prices of Processed food (which accelerated from + 0.2% to + 0.8%) and those of unprocessed foodstuffs (which reverse the trend from -0.2% to + 0.8%). The ‘core inflation’, net of energy and fresh food, remains stable at + 0.6%, while that net of energy goods alone accelerates from + 0.4% to + 0.6%
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