Italian Economy Expands 0.3% in Q1

The Italian economy advanced 0.3 percent on the quarter in the three months to March of 2016 compared to an upwardly revised 0.2 percent expansion in the previous period, in line with market expectations. It was the fifth consecutive quarter of growth, driven by domestic demand, preliminary estimates showed.

Growth in the first quarter of the year was based on stronger domestic demand, while net exports dragged the expansion down. On the production side, there was an increase in the value added in both industry and services sectors while agriculture contracted.

Compared with the same quarter a year earlier, the GDP advanced 1 percent, easing from a 1.1 percent expansion in the three months to December of 2015, but beating market expectations of 0.9 percent growth.

Meanwhile, the government cut its full year growth projections to 1.2 percent last month, from a 1.6 percent target previously estimated.

Italian Economy Expands 0.3% in Q1

Istat | Joana Ferreira |
5/13/2016 9:30:33 AM