Friday, February 12, 2016

2015 closes with GDP braking: + 0.1% in the quarter – Il Sole 24 Ore

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This article was published on February 12, 2016 at 10:19.
the last change is the 12 February 2016 at 14:30.

Frena Italian growth at the end of 2015. In the fourth quarter gross domestic product, adjusted for calendar effects and seasonally adjusted, rose 0.1% from the previous quarter and by 1% on an annual basis. Whole 2015, GDP growth stood on 0.6%, while the annual change in GDP calculated on the raw quarterly data is equal to +0.7 percent. The change acquired in 2016 amounted to 0.2 percent. In 2015 the GDP back then, the plus sign after three consecutive years of negative (-2.8% in 2012, -1.7% in 2013, -0.4% in 2014): This is the best figure since 2011 when it It had registered a growth of 0.6 percent. However the trend of last year shows a downward trend: the fact GDP grew by 0.4% in the first quarter 2015, 0.3% in the second, 0.2% in the third and 0.1% in the fourth .The figure for the whole year – up 0.6% – is lower than the estimates of the government, which indicated a 0.8 percent.

in March, the official estimate for growth in 2015
the Istat data, contained in the flash estimate released today, take into account the fact that the fourth quarter of last year had two fewer working days in the prior quarter and a working day more than in the fourth quarter of 2014. the first official estimate of the annual growth for 2015 will come in March. Last December, in the Note of the Italian economy trend, Istat had forecast a GDP growth for 2015 of 0.7% after stating that in terms of annual GDP variation incorrect prediction for calendar effects growth was to be understood at 0.8 per cent.

positive supply of the foreign component
The quarterly change, adds the Mayor, is the synthesis of a decrease in the value added in the industry sector and increases in those agriculture and services. On the demand side, there is a negative contribution of domestic component (gross inventories), more ‘than offset by the positive contribution of net foreign component. In the same period, GDP increased by 0.2% in quarterly terms in the United States and France and 0.5% in the UK. In trend terms, there was an increase of 1.9% in the UK, 1.8% in the US and 1.3% in France.

Mixed reactions from politics
the substantial slowdown in growth in the Italian end of the 2015 disappoints the expectations of many, but the reactions are divided between those who still record the “restart” of our economy, especially in the dem file, and who takes the cue to mark Italy’s delay and the failure of the Prime Minister and the government forecasts. In the first group within the Democratic Party leader in the House, Ettore Rosato ( “Istat confirmed: in 2015, Italy comes out of the recession”) and Congressman Ernesto Carbone ( “The ‘Italy is growing, in 2015 + 1% of GDP the previous year, thus maintaining ‘its commitments. this is because most of the’ top 5 years now, proving that the reforms have been the decisive factor in this recovery. “by opposing the comments of the second group which sees in the first file the leader blue in the house, Renato Brunetta, who tweets: “nominal GDP Growth 2016 ‘goal of that provided by the government to October maneuver shock 50 billion and Matteo Renzi home.” Critical of the government also the leader of the UIL, Carmel Barbagallo, that the latest ISTAT figures on GDP “confirms that there is not a real recovery, and this is because you do not make coherent choices.” “If you do not make public and private investment, if not purchasing power is returned to workers and retirees, the real and structural recovery remains a rumor, “concludes Barbagallo.



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