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Italy's GDP grows 0.5 percent in third quarter

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Staff Writer | November 15, 2017
Italy services sector
Europe   The National Institute of Statistics said:

Italy's gross domestic product (GDP) grew by 0.5 percent in the third quarter of 2017 against the previous quarter, the National Institute of Statistics (ISTAT) said.

The quarterly growth was the synthesis of a decrease in the value added of agriculture and a rise in that of industry and services, according to ISTAT.

On the demand side, both national component and net exports (value of total exports minus total imports) contributed positively, the agency added.

In an annual perspective, the output in Q3 increased by 1.8 percent against the same period of 2016.

According to ISTAT's statistical series, the growth registered on an annual basis was the highest since early 2011 for Italy's economy, which is the third largest in the eurozone.

In the second quarter, the national output had grown by 0.3 percent against the first one, and by 1.5 percent compared to the same period of last year.

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