GDP, Istat confirms first quarter estimate (+0.3%). Acquired growth for 2025 at +0.5%.
The trend figure was revised slightly upwards: from +0.6% to +0.7%.
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In the first quarter of 2025, Italian GDP, adjusted for calendar effects and seasonally adjusted, grew by 0.3% compared to the previous quarter and by 0.7% compared to the first quarter of 2024. This was announced by Istat, confirming the cyclical figure and slightly upwardly adjusting the trend figure, estimated on 30 April at +0.6%.
Acquired growth +0.5%
The acquired change in Italian GDP for 2025 is +0.5%, up 0.1 percentage points from the previous estimate. This is just below the growth of 0.6% estimated by the government in the Dfp. The change is what would be achieved if the economy grew by zero in the coming quarters.
Gross fixed capital formation grew by 1.6%
.Compared to the previous quarter, all the main aggregates of domestic demand were up, with growth of 0.1% in domestic final consumption and 1.6% in gross fixed capital formation. Imports and exports, Istat points out, grew by 2.6% and 2.8% respectively. National demand net of inventories contributed 0.4 percentage points to GDP growth: +0.1 in household consumption and private social institutions, +0.3 in gross fixed investments, and a negative contribution of 0.1 percentage points from general government expenditure.
The change in inventories subtracted 0.3 percentage points from the change in GDP, while net foreign demand made a positive contribution of 0.1 percentage points. There were positive cyclical trends in value added in agriculture, forestry and fishing and in industry, at 1.4 % and 1.2 % respectively, while services recorded a slight decline of 0.1 %. The first quarter of 2025 had one fewer working day than the previous quarter and two fewer working days than the first quarter of 2024.
