Italy economy to slow down in coming months

Published: August 03, 2018 16:27:30 | Updated: September 01, 2018 13:36:43

Italian economic growth is likely to weaken in coming months, national statistics office ISTAT said on Friday.

In its monthly economic bulletin, ISTAT said its latest composite leading indicator “continues to decline,” as it has throughout this year, “signalling a continuation of the current phase of slowing economic growth.”

Gross domestic product rose a quarterly 0.2 per cent in the second quarter, data showed earlier this week, following a 0.3 per cent rise in the first three months, and was up just 1.1 per cent on an annual basis.

The 0.2 per cent quarterly rate was the slowest since the third quarter of 2016, while the 1.1 per cent annual rate was the slowest since the fourth quarter of the same year, reports Reuters.

Economy Minister Giovanni Tria said last month the 1.5 per cent full-year 2018 growth forecast inherited from the previous centre-left administration will probably have to be revised down due to slowing exports and industrial output.

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