World Economy

Italy Records 1.4% Growth

Italy Records 1.4% Growth Italy Records 1.4% Growth

Italy’s gross domestic product grew by 1.4% last year, according to official, non-seasonally adjusted estimates. National statistics agency Istat said Wednesday that the eurozone’s third-largest economy experienced the fastest rate of expansion since 2010, when annual growth stood at 1.7%, dpa reported. However, the economy slowed down slightly in the last three months of 2017, when quarter-on-quarter growth was 0.3%, whereas the consensus forecast was 0.4%. Italy suffered a record double-dip recession between 2008 and 2013, and is a growth laggard compared to other major eurozone economies such as France and Germany. The ruling center-left Democratic Party is trying to claim credit for brightening economic prospects, but is trailing in opinion polls for March 4 general elections. A conservative bloc led by ex-premier Silvio Berlusconi leads with almost 40% of votes, followed by the populist Five Star Movement and a PD-led coalition, both on 27-28%.


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