According to the report from ISTAT, in the fourth quarter of 2020 the seasonally and calendar adjusted, chained volume measure of Gross Domestic Product (GDP) decreased by 2 per cent with respect to the previous quarter and by 6.6 per cent over the same quarter of previous year.

The fourth quarter of 2020 has had two working days less than the previous quarter and one more compared to the same quarter of previous year.

The quarter on quarter change is the result of a decrease of value added in all main economic sectors, i.e. agriculture, forestry and fishing, industry and services. From the demand side, there is a negative contribution by both the domestic component (gross of change in inventories) and the net export component.

The carry-over annual GDP growth for 2021 is equal to +2.3%.