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Financial News: Italy Q4 GDP Growth Confirmed At 0.2%

Italy Q4 GDP Growth Confirmed At 0.2%

03/05/2024 - 05:32:00 (RTTNews)

(RTTNews) - Italy's economy expanded for the second straight quarter as initially estimated in the three months ending December, the latest data from the statistical office ISTAT showed on Tuesday.

Gross domestic product rose 0.2 percent sequentially in the fourth quarter, the same pace of increase as in the third quarter, which was revised up from 0.1 percent.

On the expenditure side, final consumption expenditure dropped 0.9 percent, while gross fixed capital formation increased by 2.4 percent. Both exports and imports rose by 0.2 percent and 1.2 percent, respectively.

On a yearly basis, GDP advanced at a slightly faster pace of 0.6 percent versus a revised 0.5 percent increase in the third quarter, mainly driven by increased investments. In the flash report, the rate of growth for the fourth quarter was 0.5 percent.

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