In its previous preliminary estimates, which referred directly to the health emergency for the coronavirus epidemic, ISTAT estimated the decline of 4.7 percent compared to the previous quarter and 4.8 percent in the annual comparison .
In the first quarter 2020 GDP -5.3% compared to the previous quarter and -5.4% compared to the first quarter of 2019. In the preliminary estimate the economic downturn was 4.7% while the downturn was 4.8% #istat https://t.co/y4BrppzjU5 pic.twitter.com/w7NO8KXjtE
– Istat (@istat_it) May 29, 2020
For the statistics institute “internal demand was the main driver” (-5.5 per cent), while “foreign demand, which was also down, provided a less marked negative contribution”, ie -0.8 percent. Imports and exports are down sharply, decreasing by 6.2 percent and 8 percent respectively compared to the last quarter of 2019.