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Financial News: Italy's GDP Remains Flat In Q2

Italy's GDP Remains Flat In Q2

08/30/2019 - 07:26:00 (RTTNews)

(RTTNews) - Italy's economic growth remained flat, as initially estimated, in the second quarter, final data from the statistical office Istat showed Friday.

Gross domestic product remained unchanged sequentially, in line with the estimate released on July 31. GDP had expanded 0.1 percent in the first quarter.

On a yearly basis, the economy contracted by revised 0.1 percent, the same pace of decline as in the first quarter. The Istat initially reported a flat growth for the second quarter.

The expenditure-side breakdown of GDP showed that final consumption expenditure remained stable, while gross fixed capital formation increased 1.9 percent on quarter. At the same time, imports and exports gained 1.1 percent and 1.0 percent, respectively.

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