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Press release

Preliminary estimate of GDP

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In the first quarter of 2020 the seasonally and calendar adjusted, chained volume measure of Gross domestic product (Gdp) decreased by 4.7 percent with respect to the previous quarter and by 4.8 percent over the same quarter of previous year.

The first quarter of 2020 has had the same number of quarter days with respect to the previous quarter and one day more compared to the same quarter of previous year.

The quarter-on-quarter change is the result of a decrease of value added in all main industries (agriculture, forestry and fishing, industry and services). From the demand side, there is a negative contribution by both the domestic component (gross of change in inventories) and a the net export component.

The carry-over annual Gdp growth for 2020 is equal to -4.9%.

The preliminary estimate of quarterly Gdp is affected by the obstacles posed by the ongoing pandemic emergency to the collection of basic data, which represent the input for national accounts estimates. Corrective actions have been carried out in order to counteract statistical effects and to make possible processing and disseminating data for the first quarter of 2020 (see Methodological note, page 5). As in current practice, data released today will be subject to revision in next calendar releases, as further information sources become available. These revisions are expected to be larger than usual.

Reference period: First quarter of 2020

Date of Issue: 30 April 2020

Next release: 31 July 2020

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