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Financial News: Italy GDP Shrinks Unexpectedly In Q4

Italy GDP Shrinks Unexpectedly In Q4

01/31/2020 - 07:48:00 (RTTNews)

(RTTNews) - Italy's economy contracted for the first time in more than a year in the fourth quarter of 2019, preliminary data from Istat showed Friday.

Gross domestic product fell 0.3 percent on quarter after expanding 0.1 percent in the third quarter. GDP was forecast to grow 0.1 percent. This was the first fall in five quarters.

On a yearly basis, the economy showed nil growth following a 0.5 percent rise in the preceding period. Economists had expected an annual expansion of 0.3 percent.

The carry-over annual GDP rate of change for 2020 was equal to -0.2 percent, Istat said.

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