Italy: GDP growth softens in Q3
November 12, 2010
In the third quarter, gross domestic product grew a seasonally adjusted 0.2% over the previous quarter, according to the first estimate released by the National Statistics Office (ISTAT) on 11 November. The reading was slightly below last month's FocusEconomics Consensus Forecast, which had the economy expanding 0.3%. In addition, the expansion more than halved the 0.5% pace recorded in the previous quarter. On an annual basis, the economy expanded 1.0%, which was down from the 1.3% rise recorded in the second quarter of the year. More complete figures will be released on 10 December. The Ministry of Economy and Finance sees the economy growing 1.2% this year and 1.3% in 2011, while the Central Bank is less optimistic and sees the economy expanding 1.0% both this year and next.
Author: Armando Ciccarelli, Head of Data Solutions