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Press release

Quarterly national accounts (revision)

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Istat releases the new time series of quarterly national accounts in line with the recent revision of annual national accounts of last 22nd of September concerning the years 2018 and 2019. Based on the current revision policy, both seasonal adjusted and unadjusted data have been revised over the entire time span of the series, notably since first quarter 1995 for current price data and since first quarter of 1996 for data in volumes.

In the second quarter of 2020 the seasonally and calendar adjusted, chained volume measure of Gross Domestic Product (GDP) decreased by 13 per cent to the previous quarter and by 18 per cent in comparison with the second quarter of 2019.

Compared to previous quarter, final consumption expenditure decreased by 8.5 per cent, gross fixed capital formation by 16.2 per cent, imports and exports by 20.6 per cent and 26.4 per cent respectively.

With respect to the second quarter of 2019, final consumption expenditure decreased by 13.4 per cent, gross fixed capital formation by 22.6 per cent, imports by 26.9 per cent, and exports by 33 per cent.

The carry-over annual GDP growth for 2020 is equal to -14.8 per cent.

Reference period: Second quarter 2020

Date of Issue: 02 October 2020

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