Istat, GDP rebounded by 16.1% in the third quarter

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30 October 2020 Italian GDP in the third quarter of 2020 recorded a marked rebound of 16.1% compared to the previous quarter, which closed at -13%.

The data, corrected for calendar effects and seasonally adjusted, was disclosed by Istat on the basis of provisional estimates.

On an annual basis, compared to the period June-September 2019, the economy instead recorded a contraction of 4.7%.  

The third quarter of 2020, Istat specifies, had four more working days than the previous quarter and one more working day compared to the third quarter of 2019. The cyclical variation is the synthesis of an increase in added value both in the sector agriculture, forestry and fishing, both in industry and in services.   

On the demand side, there is a positive contribution from both the domestic component (gross of inventories) and the net foreign component.

compared to

In September, the number of employed was substantially stable compared to the previous month.

This is what Istat communicates, explaining that the number of employees in the month increased by 6,000 units.

Stability is a synthesis, on the one hand, of the increase observed among women, permanent employees and over 50s and, on the other, of the decrease among self-employed and 25-34 year-olds.

Overall, the employment rate rose by 0.1 percentage points to 58.2%.

However, the level of employment is still lower, by almost 330 thousand units, than that of February 2020 and the number of unemployed, of about 40 thousand units, and that of inactive, of over 220 thousand units, remain higher.