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%.

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