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Press release

Preliminary estimate of GDP

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In the fourth quarter of 2019 the seasonally and calendar adjusted, chained volume measure of Gross Domestic Product (GDP) decreased by 0.3 per cent with respect to the previous quarter and remained unchanged with respect to the same quarter of previous year.

The fourth quarter of 2019 has had two working days less than the previous quarter and the same days compared to the same quarter of previous year.

The quarter on quarter change is the result of a decrease of value added in both agriculture, forestry and fishing and in industry, while the value added is stagnant in services. On the demand side, there is a negative contribution of the domestic component (gross of change in inventories) and a positive one of the net export component.

The carry-over annual GDP rate of change for 2020 is equal to -0.2%.

Reference period: Fourth quarter 2019

Date of Issue: 31 January 2020

Next release: 30 April 2020

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