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Financial News: Bank Of Italy Estimates Q3 Growth At 0.5%

Bank Of Italy Estimates Q3 Growth At 0.5%

10/20/2017 - 10:15:00 (RTTNews)

(RTTNews) - Italy's economic growth improved slightly in the third quarter, led by strong performance in the service sector and non-construction industry, the Bank of Italy said Friday.

Gross domestic product continued to grow at a steady pace in the third quarter, gaining 0.5 percent on the previous period, a slight acceleration with respect to the spring, the bank said in its latest quarterly economic bulletin.

The economy expanded 0.3 percent in the second quarter and 0.5 percent in the first three months of the year.

"During the summer, output appears to have again benefited from the growth in value added in the service sector and in non-construction industry, which both showed an improvement on the second quarter," the bank said in the report.

For the full year 2017, GDP growth may be slightly higher than the 1.4 percent estimated in the previous bulletin, the bank said. The economy grew 0.9 percent in 2016.

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