Istat: Italian GDP to Grow By 1.2% In 2023

According to Istat, Italian Institute of Statistics, Italy’s GDP will grow in both 2023 (+1.2%) and 2024 (+1.1%).

Gross domestic product growth will be supported by domestic demand less inventories (+1% in 2023 and +0.9% in 2024) and external demand (+0.3 and +0.2 respectively).

“The forecast scenario is based on favorable hypotheses about the path of price reduction in the coming months and on the implementation of the public investment plan programmed for a two-year period,” Istat said in a statement.

The consumption of resident households and internet service providers is expected to increase (+0.5%) in 2023 and should grow faster (+1.1%) in 2024, when we see a further decrease in the associated inflationary processes with an improvement in the job market situation.

Investment is also growing (+3.0% in 2023 and +2.0% in 2024), as is the employment that will largely correspond to the GDP growth (+1.2% in 2023 and +1% in 2024).