Italy's GDP expands 0.5% in Q3

by IANS |

Rome, Nov 1 (IANS) Italy's economic growth streak continued in the third quarter of this year, with the country registering 0.5 per cent growth from the previous quarter, the government's main statistics entity reported.

According to the National Institute of Statistics (ISTAT), it was the seventh three-month period in a row that Italy's economy expanded, reports Xinhua news agency.

This growth started in the first quarter of last year, as the country began to recover from the worst part of the Covid-19 pandemic.

ISTAT's preliminary data also showed that Italy's gross domestic product (GDP) was 2.6 per cent larger at the end of the third quarter than it was at the same point last year.

However, the Italian economy slowed over the second half of this year, with higher energy prices and global supply chain issues sparked by the war between Russia and Ukraine exerting a prolonged impact.

According to the government's Economic and Finance Document released in late September, annual GDP growth this year is estimated at 3.3 per cent, implying negative growth in this year's final quarter.

Latest News
Sensex crosses 74K mark in 1000 points rally Thu, Mar 28, 2024, 03:42 PM
Man stabbed to death during fight over drinking water Thu, Mar 28, 2024, 03:41 PM
Actor Mukesh, BJP candidate Ashwini file nominations in Kerala Thu, Mar 28, 2024, 03:22 PM
Gillespie resigns from his role as South Australia, Adelaide strikers' head coach Thu, Mar 28, 2024, 03:15 PM
'No scope for individuality in party', Karnataka DyCM Shivakumar warns warring leaders Thu, Mar 28, 2024, 03:10 PM
Ukrainian FM arrives in India to build on talks between PM Modi, Volodymyr Zelenskyy Thu, Mar 28, 2024, 03:02 PM
Political conspiracy, claims Kejriwal while being taken to Rouse Avenue Court Thu, Mar 28, 2024, 02:47 PM
NXP Semiconductors unveils industry-first platform for software-defined vehicles Thu, Mar 28, 2024, 02:41 PM
CM Vijayan & CPI(M) tread cautiously after ED case against Veena Vijayan Thu, Mar 28, 2024, 02:37 PM
IPL 2024: 'They opened for Australia...', says Ganguly on DC's opting for Warner, Marsh as opening pair vs PBKS Thu, Mar 28, 2024, 02:28 PM
India's trade policy is calibrated with economic growth path: Piyush Goyal Thu, Mar 28, 2024, 02:17 PM
Holi brings cheer to UP excise dept as sales soar Thu, Mar 28, 2024, 02:11 PM
Punjab CM Bhagwant Mann blessed with baby girl Thu, Mar 28, 2024, 02:10 PM
New AI tool can predict fatal heart rhythm with 80 pc accuracy Thu, Mar 28, 2024, 12:41 PM
IPL 2024: 'Perplexed, beyond my understanding', Smith, Pathan slam Hardik's tactics of using Bumrah vs SRH Thu, Mar 28, 2024, 12:27 PM