Italy: Economy exits recession, posts flat growth in Q4 2014
February 13, 2015
In the fourth quarter of last year, GDP recorded flat growth over the previous quarter in seasonally- and working-day adjusted terms, according to an advance estimate released by the National Statistics Office (ISTAT) on 13 February. The result came in above both the 0.1% contraction tallied in Q3 and the 0.1% drop that the markets had expected. Despite the continued sluggish performance, the economy managed to exit recession by posting flat growth in Q4. More detailed data will be released on 5 March.
In annual terms, the economy contracted 0.3% in Q4, which was slightly up from the 0.4% decline observed in Q3. The figure marked the highest reading since Q1 2014. In the full year 2014, the economy declined 0.4%, which was a less pronounced contraction than the 1.9% drop observed in 2013.
Author: Cecilia Simkievich, Economist