Italy's GDP Growth in Q4 2024

In a sign of economic resilience, Italy's Gross Domestic Product (GDP) experienced a 0.5% increase in the fourth quarter of 2024 compared to the same period in the previous year, according to a preliminary report by the National Institute of Statistics (Istat) released on Thursday. The GDP growth remained steady when compared to the previous quarter, highlighting a stable economic environment amidst global uncertainties.

The stagnation in quarterly GDP growth was primarily attributed to a decrease in value added within the agriculture, forestry, and fishing sectors, as well as the services sector. However, this was partially offset by a positive contribution from the industrial sector, indicating a mixed performance across different areas of the economy.

Istat further elaborated, "The preliminary estimate for the fourth quarter of 2024 reflects a downturn in both the primary and services sectors, while the industrial sector saw an overall recovery over the three-month period. On the demand side, the domestic component, measured gross of inventories, is on a decline, whereas the net foreign component is estimated to have increased. As we close 2024, the projected change for 2025 stands at zero."