Preliminary estimate of GDP

In the first quarter of 2021 the seasonally and calendar adjusted, chained volume measure of Gross Domestic Product (GDP) decreased by 0.4 per cent with respect to the previous quarter and by 1.4 per cent over the same quarter of previous year.

The first quarter of 2021 has had two working days less than the previous quarter and one less compared to the first quarter of 2020.

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

The carry-over annual GDP growth for 2021 is equal to +1.9%.