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Financial News: Italy Q3 Economic Growth Exceeds Expectations

Italy Q3 Economic Growth Exceeds Expectations

10/29/2021 - 06:41:00 (RTTNews)

(RTTNews) - Italy's economic growth slowed slightly in the third quarter but the pace of growth exceeded expectations, flash data from the statistical office Istat showed on Friday.

Gross domestic product grew 2.6 percent sequentially, following the second quarter's 2.7 percent increase. The growth was forecast to ease to 2 percent.

On a yearly basis, GDP growth eased markedly to 3.8 percent from 17.0 percent in the second quarter. Nonetheless, this was also faster than the economists' forecast of 3 percent.

The statistical office said the sequential growth was driven by gross changes in inventories and exports. The third quarter revised data is due on November 30.

The carry-over annual GDP growth for 2021 was equal to 6.1 percent.

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