ingNews | Italy's economy stagnates in the third quarter of 2023 | Monitoring news

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The Italian economy isn't growing, but it's not losing ground either. It all depends on looking at the glass full or empty.

In the third quarter of 2023, the economy remains stable compared to both the April-June period and last year, according to the Italian Institute of Statistics (Istat). The latest data is the most troubling as it interrupts ten quarters of consecutive growth.

Istat notes that accumulated GDP growth stabilizes at 0.7%, the same as in the second quarter of the year. The result is a synthesis of the production side, lower value added in agriculture, growth in industry and substantial stability in services.

On the demand side, there is a negative contribution from inventories and a positive contribution from external demand. In the third quarter of the year, the Statistical Institute estimates that gross domestic product, expressed in chain values with the base year 2015, adjusted for calendar and seasonal effects, remains stable compared with both the previous quarter and the third quarter of 2022.