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Tag: istat

  • Covid-19 pandemic pushed another million people to the brink of poverty in Italy

    Covid-19 pandemic pushed another million people to the brink of poverty in Italy

    COVID-19 pandemic sent another million people in Italy below the poverty line last year, according to a survey published on Thursday by ISTAT, AFP reports.

    The number of those below this threshold has reached 5.6 million – a record in the last 15 years -, ie 9.4% of the population, compared to 7.7% in 2019.

    The percentage far exceeds the poverty rate recorded at the beginning of the financial crisis in 2008 (3%).

    Poverty growth has been particularly sharp in the rich north of Italy, where 720,000 people have become among those whose monthly spending is below the threshold considered minimal in terms of living conditions.

    In the north, the poverty rate reached 9.4% compared to 6.8% in 2019.

    Absolute poverty line differs in Italy from one region to another, going from 839.75 euro / month for a single person in a northern metropolitan area to 566.49 euro / month in a small southern town.

    The south keeps the highest percentage of people below the poverty line, 11.1% of the population compared to 10.1% in 2019.

  • More than 70,000 businesses have closed due to the pandemic in Italy

    More than 70,000 businesses have closed due to the pandemic in Italy

    Almost 73,000 businesses in Italy were closed due to coronavirus pandemic, revealed a study by National Statistics Agency, DPA reports.

    This figure represents about 7% of the total of 1 million businesses included in the study conducted in late October and early November.

    About 55,000 businesses would resume operations in the future, while 17,500, of which 5,000 in the restaurant business, were permanently shut down.

    Another 700,000 continued to operate normally and 244,000 partially.

    The Istat study also found that 85% of closed businesses were small businesses with less than nine employees, usually sports centers, small hotels, shops and bookmakers.

  • Italian GDP expected to increase by 4% in 2021

    Italian GDP expected to increase by 4% in 2021

    In 2020 Italian GDP is expected to decrease by 8.9% and then increase in 2021 (+4.0%), latest Istat data shows.

    This year, the domestic demand net of inventories will provide a negative contribution (-7.5 p.p.) together with foreign demand (-1.2 p.p) and inventories (-0.2 p.p).

    In 2021 the domestic demand will provide a positive contribution (+3.8 p.p) together with net exports (+0.3 p.p.) while inventories will contribute negatively to GDP growth (-0.1 p.p.).

    Labour market conditions will follow GDP evolution over the forecast period with a sharp fall in 2020 (-10.0%) and a recovery in 2021 (+3.6%).

    At the same time, the rate of unemployment will decrease at 9.4% in the current year and will increase at 11.0% in 2021.

  • Italy: Unemployment rate down to 9.7% (-0.1%)

    Italy: Unemployment rate down to 9.7% (-0.1%)

    In August 2020, in Italy, employment continued the growth already began in July and unemployment decreased, while inactivity kept on dropping, latest Istat data show.

    On a monthly basis, the increaseof employment (+0.4%, +83 thousand) concerned both men (+0.5%, +72 thousand) and women (+0.1%, +11 thousand), leading the employment rate to 58.1% (+0.2p. p.).

    In the last month, the drop of unemployed people (-0.9%, -23 thousand) involved only women (-3.0%, -36 thousand), where as men grew (+0.9%, +12 thousand).

    The unemployment rate decreased to 9.7% (-0.1 percentage points) while the youth rate increased to 32.1% (+0.3p.p.).

    In August the decline of inactive people aged 15-64 (-0.5%, -65 thousand) concerned only men (-1.7%, -85 thousand), while for women a rise was recorded (+0.2%, +20 thousand); the inactivity rate went down to 35.5% (-0.1 percentage points).

  • The House Price Index in Italy increased by 3.1% in Q2 2020

    The House Price Index in Italy increased by 3.1% in Q2 2020

    In the second quarter of 2020 the House Price Index increased by 3.1% compared with the previous quarter and by 3.4% compared with the same quarter of the previous year (it was +1.7% in the first quarter).

    The increase on annual basis of the House Price Index, was due to either the prices of new dwellings (+2.7%) or those of existing dwellings (+3.7%), both of them accelerating in comparison with the previous quarter (they were +1.0% and +1.9% respectively).

    The increase of the House Price Index occured in a context of sharp contraction in sales volumes (it was -27.2% the rate of change on annual basis registered for the residential sector in the second quarter of 2020 by the Observatory of Real Estate Market belonging to Tax Office).

    The strong growth in prices of residential property consolidated the trend started in the second half of 2019 and it was referred to contracts signed between April and June but whose conditions were mostly established before the lockdown.

    The drastic drop in volumes of sales involved the first part of the quarter and it was largely reabsorbed in June, without prefiguring a generalized and persistent decline of the demand such as to influence the short term evolution of prices.

    The increase on quarterly basis in the House Price Index (+3.1%) was due both to the prices of new dwellings and to those of existing dwellings, that increased by 2.0% and by +3.3% respectively.

    The increase of the House Price Index on annual basis involved all geographical areas. In North-West and North-East it showed wide increases (+5.5% and +4.1% respectively) followed by South and Islands (+2.3%), whereas Center recorded a lower growth rate (+0.9%).

  • Italy GDP, -12,4% in the second quarter of 2020

    Italy GDP, -12,4% in the second quarter of 2020

    In the second quarter of 2020 Italy Gross Domestic Product (GDP) decreased by 12.4 per cent with respect to the previous quarter and by 17.3 per cent over the same quarter of previous year, Istat shows.

    The second quarter of 2020 has had one working day less than both the previous and the same quarter of previous year.

    The quarter on quarter change is the result of a decrease of value added in agriculture, forestry and fishing, in that of industry as well as in services.

    From the demand side, there is a negative contribution both by the domestic component (gross of change in inventories) and the net export component.

    The carry-over annual GDP growth for 2020 is equal to -14.3%.

  • In June, retail index in Italy +12.1% over May and -2,2% year on year

    In June, retail index in Italy +12.1% over May and -2,2% year on year

    In June 2020 retail trade in Italy continued its recovery after sharp falls due to the pandemic emergency, shows latest Istat data.

    However, levels of total sales in the month on month series remained lower than levels recorded at the beginning of 2020, before Covid-19 outbreak. Compared with May 2020, estimates of value grew by 12.1%, while volume of sales rose by 12.5%.

    In the second quarter of 2020 the seasonally adjusted index showed a decline, as value of sales decreased by 7.9% and volume dropped by 8.8% compared with the first quarter of 2020.

    In June 2020, value and volume of sales contracted in the year on year series by 2.2% and by 3.5% respectively, after a steeper decline reported in April and May 2020.

    Comparing with the same month a year earlier, large-scale distribution fell by 1.8%, small-scale distribution decreased by 6.4% and non-store sales was down 5.9%.

    Internet sales reached a record 53.5% when compared with June 2019, confirming a shift within the retail trade to online sales.

    Looking at the value of sales for non-food products, data outlined a mixed picture across different categories in the year on year series.

    Growths were reported for Computers and telecommunications equipment (+15.1%) and Furniture and textile items and household furnishings (+10.4%). The largest drops were reported for Shoes, leather goods and travel items (-12.8%) and Clothing (-12.3%).

  • Italy in June 2020: exports increased by 14.9% and imports by 20.0%

    Italy in June 2020: exports increased by 14.9% and imports by 20.0%

    Istat latest data show that in June 2020, exports increased by 14.9% and imports increased by 20.0% compared with May 2020.

    Over the last three months, data showed a 28.1% decrease in outgoing flows and a 20.3% decrease in incoming flows in comparison with the previous three months.

    In June 2020 exports to non-EU27 countries decreased by 15.6% and imports decreased by 17.0% compared with the same month of the previous year.

    The trade balance showed a surplus of 4,436 million euro compared with a 4,994 million euro surplus in the same month of 2019.

    In June 2020 excluding energy, the trade balance showed a surplus of 6,015 million euro compared to the surplus of 8,299 million euro of June 2019.

    For the former non-EU28 area, which does not include the United Kingdom, in June 2020, exports decreased by 15.4% and imports decreased by 17.6% compared with the same month of the previous year.

    In seasonnally adjusted terms, exports increased by 15.4% and import increased by 18.5% compared with May 2020.

    The trade balance showed a surplus of 3,568 million euro (there was a 3,852 million euro surplus in June 2019).

  • Italy: number of dwellings increased by +5.2% in the fourth quarter 2019

    Italy: number of dwellings increased by +5.2% in the fourth quarter 2019

    In residential buildings the number of dwellings increased in the fourth quarter 2019 when compared with the previous quarter (+5.2%); useful floor area instead decreased (+0.2%), Istat shows.

    Non-residential buildings decreased by 3.2% in the fourth quarter 2019 (quarter on previous quarter).

    The number of dwellings in new buildings increased by 8.1% in the fourth quarter 2019 with respect to the same quarter a year earlier.

    In comparison with the same quarter a year ago, the useful floor area was up 8.3%.

    Non-residential area increased year-on-year, rising by 9.5% in the fourth quarter 2019, reversing the previous trend.

  • Italy industrial production index increased by 42.1% in May 2020

    Italy industrial production index increased by 42.1% in May 2020

    Latest Istat data show that in May 2020 the seasonally adjusted industrial production index increased by 42.1% compared with the previous month.

    The change of the average of the last three months with respect to the previous three months was -29.9%.

    The calendar-adjusted industrial production index decreased by 20.3% compared with May 2019 (calendar working days being 20 versus 22 days in May 2019).

    The unadjusted industrial production index decreased by 25.0% compared with May 2019.

    The pandemic emergency did not impact on the data collection of the survey for May 2020 

  • Italy: Retail trade index rose by 24.3% in May 2020

    Italy: Retail trade index rose by 24.3% in May 2020

    In May 2020 value of Istat retail trade index rose by 24.3% in the month on month series, after plummeting at record levels in March and April, due to restrictions and temporary closure of stores during Covid-19 pandemic.

    Volume of sales grew by 25.2% when compared to the previous month.

    Despite the increase in the month on month series, the underlying pattern in the three months to May 2020 shows a decline, as both value and volume of sales fell by 20.6% and 21.8% respectively.

    When compared with May 2019, the value of sales dropped by 10.5% and the volume was down 11.9%

    Internet sales increased by 41.7% when compared with the same month a year earlier, the highest growth on record, suggesting a shift within the retail trade to online sales.

    Looking at the value of sales for non-food products, a fall was seen across most of the categories in the year on year series.

    This drop resulted in low levels for Clothing (-38.1%), Optical instruments and photographic equipment (-37.4%), Shoes, leather goods and travel items (-34.8%). Growths were registered for Computers and telecommunications equipment (+12.4%) and Tools (+5.6%).

  • Italy: Number of unemployed people grew in May 2020 by 18.9%

    Italy: Number of unemployed people grew in May 2020 by 18.9%

    Istat shows that in May 2020, in comparison with the previous month, the decrease in employment continued – at a slower pace – and unemployment returned to grow, against a marked drop of inactivity.

    Unemployed people grew (+18.9%, +307 thousand) more among women (+31.3%, +227 thousand) than men (+8.8%, +80 thousand).

    The unemployment rate rose to 7.8% (+1.2 percentage points) and the youth rate increased to 23.5% (+2.0 p.p.).

    The decline of employment (-0.4%, -84 thousand) concerned more women ( 0.7%, 65 thousand) than men (-0.1%, -19 thousand), and brought the employment rate to 57.6% (-0.2 p.p.).

    In May the decline of inactive people aged 15-64 (-1.6%, -229 thousand) was registered for both men ( 1.3%, -71 thousand) and women (-1.7%, -158 thousand), leading the inactivity rate to 37.3% (-0.6 percentage points).