The Italian "Prodotto Interno Lordo" (PIL) corresponding to the international acronym GDP (Gross Domestic Product) is a measure of the aggregate value at market prices of all the final goods and services, which are intended for consumption and are produced in Italy during the given time period. The GDP y/y shows a percentage change in this value in the given quarter compared to the same quarter in the previous year.
The word "internal" indicates the inclusion of economic activities carried out in Italy, and thus goods and services produced by companies, by workers, and by other national operators, abroad, are excluded; instead, products made by foreign operators within Italy are included. The Italian GDP y/y does not include benefits for free and self-consumption.
The production value, gross of depreciation, indicates the term "lordo" (gross). For example, if you subtract the depreciation from the GDP, you have the net domestic product (Italian of Prodotto Interno Lordo, PIN).
The ability of the GDP to define the well-being of the Italian community, the level of progress and the level of development make it an index of primary importance.
It can be considered as constituted by the total production of Italian goods and services, not considering intermediate consumption and instead considering net taxes on products (because they make up the final price paid by buyers); this amount is the sum of the values added to the base prices of the various branches of economic activity, with the addition on this sum of the taxes on the products, including VAT, manufacturing taxes, import taxes, and without contributions to products (agricultural contributions, municipal transport companies, etc.).
It is the total value of the expenditure made by families for consumption and by companies for investments. A higher than expected GDP reading can be seen as positive for the euro quotes.
The chart of the entire available history of the "Italy Gross Domestic Product (GDP) y/y" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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