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Financial News: Italy's Economy Expands Less Than Forecast

Italy's Economy Expands Less Than Forecast

12/01/2017 - 05:22:00 (RTTNews)

(RTTNews) - Italy's economy expanded less than initially estimated in the third quarter, revised data from the statistical office Istat showed Friday.

Gross domestic product grew 0.4 percent sequentially instead of 0.5 percent growth estimated previously. The economy had expanded 0.3 percent in the second quarter.

On a yearly basis, GDP growth came in at 1.7 percent versus 1.8 percent reported on November 14.

The expenditure-side breakdown of GDP showed that final consumption expenditure grew 0.3 percent and gross fixed capital formation by 3 percent.

At the same time, imports and exports climbed 1.2 percent and 1.6 percent, respectively.

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