Italy Quarterly National Accounts. Growth quality in focus.
A seven-module structural macro monitor combining quarterly national accounts with quarterly sector-account diagnostics.
Seven modules describe the current growth mix.
The latest A-CLUSTER output classifies the quality of growth across demand, investment, competitiveness, household and corporate conditions, and the external sector.
Growth Quality
Investment-led growth. Investment supporting growth; Strong household-demand contribution; Productivity / unit-labour-cost pressure
Investment Quality
Productive-capital intensive.
Competitiveness
Mixed / broadly neutral. Non-positive productivity growth
Household Demand
Durable-led discretionary demand.
Household Income & Saving
Income-supported household position. Actual final consumption per capita unavailable for selected country
Corporate Income & Investment
Investment expansion despite margin pressure. Corporate profit share down at least 1 pp from four quarters earlier
External Sector
Broadly neutral external contribution. Domestic demand accompanied by import drag
Constructive but mixed.
The concise production page is designed for rapid reading; the full analytical report contains the detailed charts, tables and methodology.
Investment-led growth
Primary driver: Investment. Domestic demand +1.02 pp; net exports -0.01 pp.
Productive-capital intensive
GFCF 22.6% of GDP; productive-capital proxy 47.1%.
Income-supported household position
Saving rate 10.7%; real disposable income per capita +0.76% QoQ.
Broadly neutral external contribution
Real exports +4.7% YoY; real imports +4.9% YoY.