Istat: Gdp in the second quarter collapses 12.4%: to the smallest since 1995,

31 July 2020E’ salty account of the pandemic coronavirus on the economy. The Gdp recorded in the second quarter, the lowest since the first quarter of 1995, the period of the beginning of the current time series: the decline was 12.4% cyclical, i.e. with respect to The quarter, and 17.3% in terms of trend i.e. compared to the II quarter of 2019. Makes known the Istat.

Istat reports that the second quarter of 2020 has had a working day less as compared to both the previous quarter and in relation to the second quarter of 2019. The change in Gdp for the II quarter ‘and’ the synthesis of a decrease in the value added in all productive sectors, from agriculture, forestry and fishing, industry, to the complex of services”. On the demand side, there is a negative contribution both as a component of the national (gross stocks), both as a component of the foreign net.

It is a contraction “without precedent” that registered by the Italian economy in the second quarter: the Istat explained that the decline in Gdp is the result of the “full unfolding of the economic effects of the health emergency and of the containment measures”. The fall of the Gdp, explains the institute of stastistica, “is placed within an international context where the major economies recorded reductions of a similar extent due to the spread of the pandemic”.