In the first quarter of 2023 it is estimated that the gross domestic product (GDP), expressed in chain-linked values with the reference year 2015, corrected for calendar effects and seasonally adjusted, is increased by 0.5% over the previous quarter and grew up1.8% in trend terms. Istat notes this, explaining that the first three months of the year had two working days more than the previous quarter and one more than the first quarter of 2022.
The cyclical change is the synthesis of an increase in added value both in the industry and in the services sector and of a stationary nature of agriculture, forestry and fishing. On the demand side, there is a positive contribution from both the national component (gross of inventories) and the net foreign component.
“The preliminary estimate, which is always provisional in nature – explains Istat in its commentary – reflects on the supply side growth in both the industrial and services sectors, while the primary sector is stationary. On the supply side question the contribution to GDP growth is positive for both the national component and the foreign component”
After the slight economic downturn in the last quarter of 2022, the recovery at the beginning of 2023 promises a growth rate acquired for the current year estimated at 0.8%.
“Responsible ambition pays off. Inferences are matched by facts”. Thus the Minister of Economy, Giancarlo Giorgetti,comments on the Istat data on GDP.