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Press release

Quarterly national accounts

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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 5.3 per cent to the previous quarter and by 5.4% in comparison to the first quarter of 2019.

Compared to previous quarter, final consumption expenditure decreased by 5.1 per cent, gross fixed capital formation by 8.1 per cent, imports and exports by 6.2 per cent and 8.0 per cent respectively.

With respect to the first quarter of 2019, final consumption expenditure decreased by 4.9 per cent, gross fixed capital formation by 8.8 per cent, imports by 6.3 per cent and exports by 7.5 per cent.

The carry-over annual GDP growth for 2020 is equal to -5.5%.

Note. On 11 June 2020 at 3:00 p.m. data on hours worked, full time equivalent, wages and salaries and compensation of employees were updated on the basis of data coming from the statistical sources which became available after 29 May and which allow a wider coherence of quarterly national accounts with data of the labour market to be released on 12 June 2020. All the other estimates released on 29 May last remained unchanged. Together with data of first quarter 2020, the same updated aggregates have been released since first quarter 2016, both for seasonal adjusted and unadjusted data. New data will be available at same time on the ISTAT datawarehouse I.stat.

Reference period: First quarter 2020

Date of Issue: 29 May 2020

Next release: 31 August 2020

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