Italian GDP Prelim QoQ: 0.5% (Forecast 0%, Previous 1.1%)

Italian GDP Prelim -

QoQ: 0.5% (Forecast 0%, Previous 1.1%)

YoY: 2.6% (Previous 4.7%)

A surprise beat by the Italians, and another nail in the coffin for the early ECB pivot

Reuters Note:

Italian GDP has exceeded expectations in each of the first three quarters of this year.

However, looking ahead, the outlook has been clouded by sky-high, energy-driven inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term, exacerbated by the war in Ukraine, which has sapped business and consumer confidence, crimped investments and hit families' spending power.

Rome is officially forecasting full-year growth of 3.3% this year, slowing sharply to just 0.6% in 2023. Following the unexpected growth in the third quarter, the 2022 forecast looks likely to be exceeded.