Italy's Q1 2023 GDP rises by 0.6% over Q4 2022, by 1.9% YoY
16 Jun 23 2 min read
Insights
- Italy's GDP increased by 0.6 per cent quarter on quarter in the first quarter (Q1) this year and by 1.9 per cent year on year (YoY) during the same period.
- Its labour input rose by 1.3 per cent in Q1 2023 compared to the previous quarter and by 3.3 per cent YoY.
- The employment rate rose to 60.9 per cent, while the unemployment rate increased to 8 per cent.
The number of employed people rose by 104,000 in Q1 2023 compared to Q4 2022—a 0.4 per cent rise.
The increase involves permanent employees (plus 92,000, a rise of 0.6 per cent) and self-employed (plus 27,000, a rise of 0.5 per cent), while temporary employees a slight decrease (minus 15,000, a fall of 0.5 per cent).
The employment rate rose to 60.9 per cent (a rise of 0.3 percentage points), the unemployment rate increased to 8 per cent (a rise of 0.1 percentage points), according to the official statistical agency Istat.
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The provisional seasonally-adjusted data for April 2023 indicate a further increase in the number of employed people (plus 48,000, a rise of 0.2 per cent) compared to the previous month, along with a decrease in the number of unemployed (minus 14,000, a fall of 0.7 per cent).
On the enterprise side, on a quarterly basis, the growth of total employee jobs intensified, growing overall by 1.1 per cent, as a result of marked growth of the full-time component (plus 1 per cent) and an upward rise of the part-time component (plus 1.4 per cent).
Fibre2Fashion News Desk (DS)
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