Istat revises GDP 2013: deficit falls from 3% to 2.8% – Il Sole 24 Ore

Istat revises GDP 2013: deficit falls from 3% to 2.8% – Il Sole 24 Ore

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This article was published on 22 September 2014 at 24:26. ​​
The last change is the 22 September 2014 at 13:43.

nominal GDP in 2013, a rise of 3.8%, almost 59 billion euro, compared to data released in March. It is one of the effects of the new European system of national and regional accounts (Sec 2010) adotttato by Istat in line with EU standards in the field. The rates of change of GDP for recent years have been revisions rather very small. In particular, the rate of change of the GDP volume in 2013 was identical to the one estimated in March 2014 (-1.9%) still calculated on the basis of the criteria Sec 95; that relative to 2012 was revised upwards from -2.4% to -2.3 percent. It also changes the estimate of the tax burden in 2013, increased to 43.3% from 43.8% (-0.5%).

Added value, increased only for agriculture and fisheries
Reasoning by sectors, the value added to the GDP registered in 2013 a decline in volume in all major sectors, except agriculture, forestry and fishing (0.6%). The decreases were 3.0% in industry excluding construction, 5.8% in construction and 1.2% in services.

deficit-GDP ratio in 2013 fell by 0.2 points
deficit-GDP ratio 2013 indebtedness nellto of Pa relative to GDP, calculated with the new statistical method is improved instead of 0.2 points, stopping at 2.8% instead of 3.0% results in April from the previous estimates with the criteria Sec 95 In absolute terms, net debt was reduced by approximately 2 billion euro. The primary surplus (net debt minus interest payments), expressed as a percentage of GDP is now 2.0%, with a downward revision of 0.2 percentage points compared to the estimate in the old Sec.

Back consumption and gross capital formation
In terms of domestic demand, the application of the new criteria to estimate for 2013 has resulted in a fall in the volume of final consumption by 2.3% and 5.4% of gross fixed investment, while exports of goods and services saw an increase of 0.6%. Imports fell by 2.7 per cent.

Figures released late, occupy temporary press room
GDP data for 2012 and 2013 revised with the new standards accounting ESA 2010 were released today delayed beyond its scheduled time of the 11 originally planned, due to the agitation of temporary workers who have occupied this morning the press room of the institute. The precarious complain, in a note, the lack of ‘a credible path of dialogue with the Government towards stabilization. “

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