Italian Economy Expands Less Than Expected
Italian gross domestic product rose 0.2 percent, slowing compared with a 0.3 percent increase in the January to March period. Still it is a second consecutive quarter of growth.
Growth in the second quarter was based on a rise in domestic demand, while negative trade flows held back the economy. On the industry side, services increased, there was no change in the industry excluding construction, and agriculture declined.
Year on year, the GDP grew 0.5 percent after expanding 0.1 percent in the previous quarter.
Matteo Renzi's 18-month old government is forecasting full year growth of 0.7 percent after contractions of 0.4 percent in 2014, 1.7 percent in 2013 and 2.8 percent in 2012.
8/14/2015 9:28:25 AM