(Finance) – Istat announced that in first quarter of 2024 the gross domestic product (GDP) Italian, expressed in chained values with the reference year 2015, corrected for calendar effects and seasonally adjusted, increased by 0.3% compared to the previous quarter (as expected) and by 0.7% compared to the first quarter of 2023 (compared to the +0.6% expected by the market).
The cyclical growth of GDP released on April 30, 2024 it had also been 0.3%, while the trend had been 0.6%. The first quarter of 2024 had three more working days than the previous quarter and the same number of working days as the first quarter of 2023.
There acquired variation for 2024 it is equal to +0.6%, the one released on 30 April 2024 was +0.5%.
Compared to the previous quarter, all the main aggregates of internal demand are growing, with an increase of 0.2% in national final consumption and 0.5% in gross fixed investments. Imports fell 1.7% and exports grew 0.6%.
National demand net of inventories contributed 0.3 percentage points to GDP growth: +0.2 i household consumption and Private Social Institutions (ISP), +0.1 gli investments gross fixed and zero contribution to Public Administration (PA) expenditure. On the other hand, the change in inventories subtracted 0.7 percentage points from GDP growth, while the contribution of net foreign demand was positive and equal to 0.7 percentage points.
Positive economic trends have been recorded for added value in all the main sectors production sectorswith agriculture growing by 3.3% and industry and services both by 0.3%.