Italy's growth forecast for 2024 revised up to 1 pct: ISTAT

STORY: Italy's growth forecast for 2024 revised up to 1 pct: ISTAT SHOOTING TIME: June 7, 2024 DATELINE: June 8, 2024 LENGTH: 00:00:41 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of Italy STORYLINE: The Italian economy is expected to grow by 1 percent this year, the country's National Institute of Statistics (ISTAT) said on Thursday, revising up a previous 0.7 percent projection. The country's gross domestic product (GDP) growth rate "will be supported by the contribution of both domestic net demand of inventories and net foreign demand," ISTAT said in its report. Italy, the third largest economy in the European Union after Germany and France, will then expand by 1.1 percent in 2025. Overall, ISTAT said that private consumption in the country continues to be supported by the strengthening of the labor market and an increase in real wages. "These dynamics will lead to a growth of 0.4 percent in household consumption in 2024 and of 1 percent in 2025," it said. The labor market is also expected

Italy hosts record-breaking number of tourists in 2023

STORY: Italy hosts record-breaking number of tourists in 2023 SHOOTING TIME: June 4, 2024 DATELINE: June 5, 2024 LENGTH: 00:00:47 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of tourists in Rome STORYLINE: Italy set an all-time record for tourist arrivals last year, with numbers surpassing pre-pandemic levels for the first time, the government's statistics entity reported Tuesday. ISTAT, the Italian Statistics Institute, said the country hosted more than 134 million tourists in 2023, amounting to a total of more than 450 million overnight stays. This represents 3 million more arrivals and 14.5 million more overnight stays than in 2019, the last year before the COVID-19 pandemic, accounting for increases of 2.3 percent and 3.3 percent, respectively. Compared to 2022, the tourism figures rose by 13.4 percent and 9.5 percent, respectively. According to the data, the most popular Italian region for tourism last year was Veneto, famous for the canal city of Venice. Veneto attracted 21.1 mil

Industrial production costs fall in Italy for 6th consecutive month

STORY: Industrial production costs fall in Italy for 6th consecutive month SHOOTING DATE: May 30, 2024 DATELINE: May 31, 2024 LENGTH: 00:00:49 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of streets in Rome STORYLINE: Industrial producer prices in Italy fell for the sixth consecutive month, the country's statistics entity reported Thursday, due largely to continued decreases in energy costs. The Italian National Institute of Statistics (ISTAT) said that prices for industrial producers fell by 0.9 percent in April compared to the previous month. Costs were 5.9 percent below their levels from a year earlier. The trend represents a marked turn-around from 2022 and early 2023, when the key index rose nearly every month and when year-on-year increases regularly topped 30 percent due to the spike in energy prices. Overall inflation in Italy has fallen dramatically since October 2023. This decline has been broadly in line with the drop in producer prices. Still, the rate of decrease in producer

Italian youth population declining as number of elderly grows

STORY: Italian youth population declining as number of elderly grows SHOOTING TIME: May 15, 2024 DATELINE: May 16, 2024 LENGTH: 0:00:46 LOCATION: Rome CATEGORY: SOCIETY SHOTLIST: 1. various of street views in Italy STORYLINE: The number of young adults in Italy has declined sharply in the last two decades, while the number of elderly people in the country has grown, government data released Wednesday shows. Italy's National Institute of Statistics (ISTAT) said in its 2024 Annual Report that an increasing number of those in the youngest demographic continue to live at home with their parents, and Italians are also getting married and having children later in life. The number of young adults in Italy -- defined as people between the ages of 18 and 34 -- fell by more than 3 million in the 21-year span ending last year, ISTAT reported. Over that time, the number of young adults declined to 10.33 million compared to 13.39 million in 2002, a decrease of 22.9 percent. In contrast, the number of elderly people

One out of 10 Italians in absolute poverty last year: report

STORY: One out of 10 Italians in absolute poverty last year: report SHOOTING TIME: March 26, 2024 DATELINE: March 27, 2024 LENGTH: 0:00:43 LOCATION: Rome CATEGORY: SOCIETY SHOTLIST: 1. various of the report of ISTAT 2. various of homeless people on the streets in Italy STORYLINE: One out of 10 Italians was living in absolute poverty last year, according to preliminary government data released on Monday. Italy's National Statistics Institute, ISTAT, said that 5.75 million Italians were living in absolute poverty in 2023, up from 5.67 million in 2022 and 5.32 million in 2021. Last year, this group amounted to 9.8 percent of the country's population. ISTAT defines a person living in absolute poverty as someone who lacks the resources to meet their basic needs such as food and clean drinking water, clothing, health care and shelter. ISTAT's data shows the highest levels of absolute poverty were reported in the largely agricultural southern regions, while the industrialized north showed the lowest l

Italy's inflation remains at 0.8 pct in February

STORY: Italy's inflation remains at 0.8 pct in February SHOOTING TIME: March 15, 2024 DATELINE: March 16, 2024 LENGTH: 00:00:58 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of National Statistics Institute (ISTAT) in Italy 2. various of streets in Rome STORYLINE: Italy's inflation rate remained stable at 0.8 percent in February, the same level as in January, the national statistics agency said on Friday. Data released by the National Statistics Institute (ISTAT) showed Italy's consumer price index rose by 0.1 percent in month-on-month terms in February. The index increased by 0.3 percent in January compared to December 2023. ISTAT attributed the low inflation rate to a slowdown in price increases for processed and unprocessed food, transportation services and recreational activities. Regulated and unregulated energy products saw prices drop compared to a year earlier, though by a smaller margin than in January. The Italian government introduced a series of anti-inflation measures betwe

Italy's Q4 2023 GDP records growth: ISTAT

STORY: Italy's Q4 2023 GDP records growth: ISTAT SHOOTING TIME: March 6, 2024 DATELINE: March 7, 2024 LENGTH: 00:00:54 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of street view in Rome STORYLINE: Italy's gross domestic product (GDP) increased by 0.2 percent in the fourth quarter (Q4) of 2023 over the previous quarter, and by 0.6 percent year-on-year, the National Institute of Statistics (ISTAT) said Tuesday. The quarter-on-quarter figure matched ISTAT's preliminary estimate at the end of January, while the year-on-year result was revised up from 0.5 percent. The primary drivers of economic growth are found in the industrial and construction sectors, while the agricultural sector saw a slight contraction, partly due to the impacts of extreme weather that affected Italy for much of last year. The services sector also experienced a slight decline, according to ISTAT. Xinhua News Agency correspondents reporting from Rome. (XHTV)

Italy's inflation remains low despite lifting of price controls

STORY: Italy's inflation remains low despite lifting of price controls SHOOTING TIME: Feb. 2, 2024 DATELINE: Feb. 3, 2024 LENGTH: 00:00:37 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of markets in Rome 2. various of gas stations in Rome STORYLINE: Italy's annual inflation rate rose to 0.8 percent in January, up from 0.6 percent in December, according to Italy's National Statistics Institute (ISTAT) on Thursday. The relatively low inflation rate in January is significant given that the month is the first since the price controls in Italy's "anti-inflation quarter" expired. The initiative artificially reduced consumer prices on a basket of basic necessities over the final three months of 2023. The government reserved the right to continue the terms of the "anti-inflation quarter" into this year but it chose not to do so. ISTAT said the main factors pushing prices in the country higher in January were transportation-related services which climbed by 4.3 percent compared to 3.7 percent in Dec

Italy reports 0.7 pct economic growth in 2023

STORY: Italy reports 0.7 pct economic growth in 2023 SHOOTING TIME: Feb. 1, 2024 DATELINE: Feb. 1, 2024 LENGTH: 00:00:44 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of shops in Rome 2. various of markets in Rome STORYLINE: Italy's economy grew by 0.7 percent year-on-year in 2023 after calendar and seasonal adjustment, according to Italy's National Institute of Statistics (ISTAT) on Tuesday. The statistics entity also said that the Italian economy increased by 0.2 percent in the final quarter of 2023 compared to the previous quarter, and by 0.5 percent compared to the same quarter of 2022. The economic change in the fourth quarter was the result of a decrease of value added in agriculture, forestry and fishing, as well as an increase in that of both industry and services, ISTAT said. Italy's economy showed positive growth for two consecutive economic quarters after alternating expansion and contraction over the four previous quarters, it said. According to recent estimates from ISTAT, the coun

Italy's annual inflation rate lowest in 32 months

STORY: Italy's annual inflation rate lowest in 32 months SHOOTING TIME: Dec. 1, 2023 DATELINE: Dec. 2, 2023 LENGTH: 00:00:45 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of street views in Rome 2. various of price tags STORYLINE: The annual inflation rate in Italy fell to 0.8 percent in November 2023, the lowest recorded value since March 2021, according to government data. In November, the Italian national consumer price index for the entire collectivity, including tobacco products, recorded a decrease of 0.4 percent on a monthly basis and an increase of 0.8 percent on an annual basis. This was down from 1.7 percent in October, said ISTAT, the country's national statistics institute. Lower energy prices were the main factor pushing the inflation rate lower, ISTAT said, with non-regulated energy prices declining by 22.5 percent year-on-year. Meanwhile, regulated energy prices declined by 36 percent in November compared to the year-ago period. In the meantime, inflation slowed for processed food

Italy's economic growth to slow to 0.7 pct in 2024: OECD

STORY: Italy's economic growth to slow to 0.7 pct in 2024: OECD SHOOTING TIME: Nov. 29, 2023 DATELINE: Dec. 1, 2023 LENGTH: 00:00:48 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of street views in Rome STORYLINE: The Organization for Economic Cooperation and Development (OECD) forecast Wednesday that Italy's economy will grow by 0.7 percent this year and next, before expanding by 1.2 percent in 2025. OECD's estimate for this year was in line with the prediction of both the Bank of Italy and Italy's National Institute of Statistics (ISTAT). However, in its latest report, the Bank of Italy forecast the economy would grow 0.8 percent next year, and 1 percent in 2025. Meanwhile, ISTAT said a month ago that the economy could see its growth rate slow to 0.6 percent next year. ISTAT data shows Italy's economy has failed to grow in three of the last four economic quarters. According to the most recent data, the third quarter of this year saw flat growth compared to the previous quarter. We

Italy's consumer confidence, industrial turnover fall

STORY: Italy's consumer confidence, industrial turnover fall DATELINE: Oct. 28, 2023 LENGTH: 0:00:54 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of food in a supermarket STORYLINE: Italy's economy revealed new signs of frailty on Friday, as data on business and consumer confidence and on industrial turnover all weakened in the latest reporting periods. Italy's National Institute of Statistics (ISTAT) reported that business and consumer confidence both went down in October, with the biggest decline among individuals and families. Consumer confidence in October fell to 101.6 points from 105.4 points a month earlier, marking the lowest value for the index since January. Business confidence, meanwhile, saw a smaller decline, falling to 103.9 points from 104.9 points. Still, it was the lowest survey result for business confidence levels since April 2021. Both indicators use a 100-point baseline from 2010, adjusted upward or downward based on the responses to the ISTAT survey tabulated near the end

Italian consumer confidence reaches highest level in a year

STORY: Italian consumer confidence reaches highest level in a year DATELINE: April 28, 2023 LENGTH: 00:00:34 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of Italian consumers STORYLINE: Consumer confidence in Italy reached its highest level in more than a year in April, the government's main statistical entity (ISTAT) reported Thursday. ISTAT said its consumer confidence index rose for the third consecutive month in April, climbing to 105.5 from 105.1 a month earlier. This is the highest level since March 2022. "The positive trend in the index reflects the improvement in assessments of the general and current economic situation," ISTAT said. However, improvements in personal economic situations have been less robust, it added. Business confidence also climbed in April, rising to 110.5 from 110.1, but the components of that survey were mixed. Although respondents noted an improvement in the current economic climate, there was also a drop in confidence about future economic circumstances. The

Energy prices drive up Italian inflation to 11.8 pct in October

STORY: Energy prices drive up Italian inflation to 11.8 pct in October DATELINE: Nov. 18, 2022 LENGTH: 00:00:52 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of gas stations in Italy STORYLINE: Consumer prices in Italy rose by 11.8 percent in October compared to a year earlier, the government's statistics entity reported Wednesday. Energy-related impacts continued to play an oversized role. According to the National Institute of Statistics (ISTAT), the final data for the consumer price index in October is lower than the 11.9-percent estimate released last month. However, it is still a record since Italy's adoption of the euro currency in 1999. The last time prices rose so sharply in one month was in June 1983, when inflation hit 13 percent during a period when Italy was still using the lira currency. In September this year, prices were 8.9 percent higher than a year earlier. Soaring energy prices continue to drive up other prices, ISTAT said, with prices for energy goods increasing

Italy's GDP expands 0.5 pct in Q3: ISTAT

STORY: Italy's GDP expands 0.5 pct in Q3: ISTAT DATELINE: Nov. 2, 2022 LENGTH: 0:01:12 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of Italy's economic development STORYLINE: Italy's economic growth streak continued in the third quarter of this year, with the country registering 0.5 percent growth from the previous quarter, the government's main statistics entity reported Monday. According to the National Institute of Statistics (ISTAT), it was the seventh three-month period in a row that Italy's economy expanded. This growth started in the first quarter of last year, as the country began to recover from the worst part of the COVID-19 pandemic. ISTAT's preliminary data also showed that Italy's gross domestic product (GDP) was 2.6 percent higher at the end of the third quarter than the same period last year. However, the Italian economy slowed over the second half of this year, with higher energy prices and global supply chain issues sparked by the conflict between Russia and Ukraine exerting a

Italy's inflation reaches nearly 40-yr high in October: statistics

STORY: Italy's inflation reaches nearly 40-yr high in October: statistics DATELINE: Nov. 1, 2022 LENGTH: 00:01:31 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of the views in Rome STORYLINE: Prices in Italy jumped by 11.9 percent in October compared to the same month a year ago, the highest in nearly four decades, according to provisional data released by the National Statistics Institute (ISTAT) on Friday. The figure was 3 percentage points above the then-record 8.9-percent of annual inflation in September, and it was the highest since 1983 in Italy. It was also the first time that the country's inflation experienced double digits since Italy's adoption of the euro currency in 1999. The main driver behind the price increase was the rising energy costs sparked by the conflict between Russia and Ukraine. But even the "core" inflation rate -- which excludes energy and food costs given their susceptibility to international market forces -- rose by 5.3 percent in October. Costs for service

Italy's industrial output rises by 2.3 pct in August: statistics

STORY: Italy's industrial output rises by 2.3 pct in August: statistics DATELINE: Oct. 12, 2022 LENGTH: 00:02:43 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of production lines in Italian factories STORYLINE: Industrial output in Italy rose by 2.3 percent in the latest index from the Italian government's main statistical entity released on Tuesday, reversing a recent trend and outpacing inflation for that month. The data from the National Institute of Statistics (ISTAT) showed the seasonally-adjusted index climbed in August compared to the previous month, though for the three-month period between June and August the index still retreated, falling by 1.2 percent compared to the March-May period. The rise in August showed a net increase even compared to the month-on-month increment in the country's consumer price index, which rose 0.8 percent in August compared to July. The annualized inflation rate for the month -- comparing prices in August to the year-ago period -- was 8.4 percent.

Italian inflation climbs to record high in September

STORY: Italian inflation climbs to record high in September DATELINE: Oct. 5, 2022 LENGTH: 00:01:16 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of people shopping in the supermarket STORYLINE: The consumer price index in Italy set a new record by rising 8.9 percent in September compared to the same month in 2021, the largest year-on-year increase recorded since the creation of the euro currency. The previous record was set a month earlier, when prices climbed 8.4 percent between August 2021 and August of this year. So far, the four largest year-on-year increases in Italy's inflation rate have all been recorded over the last four months. According to Italy's National Statistics Institute (ISTAT), the country's inflation rate over the first nine months of the year was 7.1 percent higher than the same period a year earlier. The main factors pushing prices higher are direct and indirect energy-related costs. While prices for energy goods were 44.5 percent higher in September than in the same